Financial Market Newsletter

Federal Reserve Chair Kevin Warsh on Wednesday declined to say whether the Central Bank needs to consider raising interest rates later this month, but said that in his first few weeks in office he had seen inflation risks gradually ease.

U.S consumer confidence edged higher in June, as lower gasoline prices offset concerns about the labor market. The Conference Board’s confidence index rose by 0,6 points to 91,2 after the previous month’s figure was revised lower, according to data released on Tuesday.

European Central Bank President Christine Lagarde said on Monday night that the ECB’s decision to raise its policy rate in June was based on its forecasts rather than a pre-emptive move aimed at preventing inflation risks from spiraling out of control.

Recent signals from the Federal Reserve show that the outlook for rate hikes this year is becoming increasingly likely.

The boom in AI data centers has pushed up prices of power components and equipment, igniting a third wave of inflation in the U.S.

Global gold prices fell below 4.000 USD/ounce for the first time since November, as the prospect of higher interest rates and a stronger USD suggested that the precious metal’s three-year rally may have come to an end.

According to PMI surveys released on Tuesday, many businesses in the U.S, Europe, and parts of Asia said the increase in costs caused by the Middle East conflict eased in June following the temporary peace agreement, while some firms also reported a recovery in activity.

China’s monthly gold imports rose to their highest level in more than two years in May, showing that demand from the world’s largest gold-buying country remains strong amid a downward correction in gold prices.

According to data from the Customs Department, Vietnam’s exports in the first half of June reached 24,2 billion USD, while imports totaled 26,9 billion USD, resulting in a trade deficit of around 2,8 billion USD for the period.