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Risk appetite witnessed a variation during the first day of the week
The US dollar is waiting for Jerome Powell's testimony tomorrow
Conflict in gold price movements
Switzerland CPI recorded growth by 0.7%
Gold prices are rising again from 1850 levels
Oil prices fall on concerns of weak demand from Chin
Risk appetite
Risk appetite witnessed a clear divergence during the first trading days of the week, on Monday, after China announced its growth targets less than expected, and with investors anticipating the start of US Federal Reserve Governor Jerome Powell’s testimony before Congress during the next two days.
European stock indices rose with the increasing statements of ECB members that the bank will raise interest rates by 50 basis points in the next meeting, despite the significant rise in inflation, especially the basic one.
Oil prices
Oil prices fell during today's trading due to concerns over subdued demand from China, the second-largest consumer of oil all over the world. Brent fell to $84.45 per barrel, while WWTI fell to $78.44 per barrel.
China has set a modest target for economic growth this year of about 5%, below market expectations of 5.5% growth.
US dollar
The price of gold witnessed a divergence in global markets today, Monday, as the price of the dollar rose, with the release of a new set of data that reinforced fears that central banks around the world will continue to raise interest rates to contain inflation.
The price of gold fell to $1853.19 an ounce, after rising to its highest level since February 15 on Friday. While dollar index stable near to 104.90.
