Global Market News includes XBRUSD, XAUUSD, and China

☀️ Good morning! Happy Wednesday, dear traders! Today, May 29, we’re bringing you the most exciting news highlights of the day.

Global Market News includes XBRUSD, XAUUSD, and China

Today’s Global Market News including XBRUSD, XAUUSD, Japan, and China markets:

🛢 Brent Crude Oil Prices Rise:

Ahead of the OPEC+ meeting on June 2nd, Brent crude oil prices have exceeded $84. XBRUSD has surged to $84.25. XBRUSD has surged to $84.25.

🌐 Federal Reserve’s Stance on Interest Rates:

Neel Kashkari from the Federal Reserve said they might raise interest rates. The Fed is not ruling out this possibility. They will act if inflation starts rising again. Should inflation begin to rise again, the Fed is prepared to take the necessary measures to address it.

🥇 UBS Raises Gold Price Forecast:

UBS has revised its gold price forecast for 2024, increasing it to $2600 from the previous estimate of $2200. As of now, XAUUSD is trading at $2353.

🇨🇳 IMF Adjusts China’s GDP Growth Forecast:

The International Monetary Fund has increased its GDP growth forecast for China in 2024 to 5%, up from an earlier estimate of 4.6%. However, despite this positive outlook, the HK50 index has fallen to 18,550.

🌐 ETH Trading Surges with ETF Approval:

According to TheBlock, the approval of spot ETFs has led to a significant increase in the share of ETH trading on spot markets. Currently, ETHUSD is trading at $3863.

🥈 China’s Solar Energy Demand Boosts Silver Prices:

China’s growing demand for solar energy will boost silver imports. This trend will drive silver prices higher. Domestic demand is surpassing external demand, as evidenced by the rising premiums. Presently, XAGUSD is trading at $32.250.

🇯🇵 Bank of Japan on Interest Rates:

Adachi from the Bank of Japan supports gradual interest rate adjustments. This is appropriate if core inflation steadily nears 2%. Meanwhile, the JP225 index has dipped to 38,540.

📱 iPhone Shipments in China Surge:

CAICT data shows a 52% year-on-year surge in iPhone shipments in China for April. This significant increase follows recent price reductions. Consequently, Apple shares have increased by 1.41% on this news.

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