Saturday, June 15, 2024

This week’s market commentary from David Jones, Chief Market Strategist at Capital.com

As the trading week gets underway for UK investors, politics is likely to be the main focus once again. Unrest at the top of government and the lack of Brexit progress continues to be the main driving force behind the pound against other currencies – but for now the 1.3000 level remains a floor versus the US dollar.

Last week saw stock markets broadly sideways but they have started with a bit more momentum this week. The main focus for economic updates will be Friday when the latest US unemployment numbers are revealed.  Recent months have delivered some surprises here – and with some analysts concerned about the threat of the US slipping into recession as the year goes on, the non-farm payrolls will be more closely watched than ever.

After many previous attempts, the price of US crude oil is once again pushing through the $60 a barrel mark. This is always good news of course for the oil and gas sector so it can help give stock market indices a boost – but if oil continues to rise there has to be some concern that the impact higher fuel prices will have on the world economy.

*This is market commentary information, therefore it shall not be regarded as investment research or investment advice. Also note that past performance is not reliable indicator for the future.

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  5. Bank for International Settlements and Bank of Canada launch BIS Toronto Innovation Centre Read more
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