The wider sentiment in the markets is downbeat as worries about lower global growth, rising inflation and interest rate hikes are dominating the headlines.
The markets saw an increase in volatility towards the end of last week as bond yields ticked up, and that indicated the markets are factoring in more large rate hikes from central banks.
Gold is arguably the oldest interment tool in the world, and with that it has a long track record of being a safe haven asset, whereby if uncertainty descends upon the markets, funds are ploughed into the metal.
The US banking sector has been losing ground in 2022 even though the Federal Reserve has hiked interest rates four times since March.
Stripe is a payment processing software firm, it covers various aspects of the sector, which includes a point-of-sale service and an operation that manages recurring invoicing, as well as anti-fraud tools.
Last week, EUR/USD printed a new 20-year low, largely down to a sharp rally in the US dollar.
Last week, the ECB hiked interest rates by 75-bassis points, meeting estimates. Christine Lagarde, the head of the ECB made it clear that more interest rate hikes are in the pipeline as CPI in the eurozone is at a record high.
FedEx is a delivery company and therefore its heavily tied in with consumer activity, so the performance of the company can viewed as a gauge of consumer appetite.
The upcoming FOMC meeting minutes have been considerably hyped up
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