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World Stock Markets Mostly Firmer In Quieter Start To Trading Week

Editor's Note:This feature is available daily on Money Morning

Asian and European stock markets were mostly higher Monday. U.S. stock indexes are also pointed toward higher openings when the New York day session begins.

Gold prices are weaker on a corrective and profit-taking pullback after last week hitting a three-month high. Gold prices are still in a two-month-old uptrend.

In overnight news, the European Union Commission released its economic growth forecasts that put EU gross domestic product growth at up 1.8% for 2017, and the same growth rate for 2018. The Commission also warned that Brexit, Chinese debt concerns and the Trump Administration pose risks to EU economic growth.

The marketplace did breathe a sigh of relief as the weekend meeting between President Trump and Japan Prime Minister Abe did not produce any negative rhetoric coming from Trump.

The U.S. dollar index is trading slightly lower this morning. The greenback bulls have some upside momentum as prices have been trending higher for almost two weeks.

The other key "outside market" on Monday sees Nymex crude oil prices trading weaker. Oil prices are back in a sideways trading range that has bound the market for weeks.

There is no major U.S. economic data due out Monday. However, the data pace picks up rapidly Tuesday, including Fed Chair Janet Yellen speaking on monetary policy before the U.S. Senate.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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