Global markets on negative territory


Whilst global markets are on a negative course owing to escalating geopolitical tensions and concerns over the world’s leading central banks taking a more hawkish stance than expected,

volatility is projected to increase with a busy data agenda and company earnings.

Investors will be following datas on the US growth, inflation in Europe, and the Japanese central bank’s interest rate decision, all of which are set to be announced this week.

Despite strong quarterly earnings from American companies last week, risk appetite has been reduced by remarks from Federal Reserve officials indicating that the central bank will raise

interest rates by 50 basis points at its next meeting on May 4.

The European market found support after Emmanuel Macron won a second term as French president in a run-off election on Sunday.

Macron, the candidate of his La Republique En Marche! party, received 58.6% or 18,779,809 votes.

In commodity prices, selling pressure continued with the continued strengthening of the dollar index and prolonged lockdown measures in Shanghai.

International benchmark Brent crude was $102.2 per barrel at 0637 GMT, down 3.7% from the previous session’s close of $106.15 a barrel.

One ounce of gold traded for $1,918 at the start of this week, which lost 2.1% last week.​​​​​​​

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