Previous Trading Days Events 30.05.2024

The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending and a key measure of inflation ticked down.

GDP Gross domestic product grew at a 1.3 annualised rate from January through March, down from the advance estimate of 1.6 and notably slower than the 3.4 pace in the final three months of 2023.

The firstquarter growth downgrade suggests the U.S. central banks aim of gradually cooling the economy through high interest rates is having an impact, although it remains uncertain whether the weakening trend in inflation will continue. 

The downward revision to economic growth as well as smaller downward revisions to inflation make the Fed a little more likely to start reducing interest rates by September, said Bill Adams, the chief economist at Comerica Bank. With the economy operating in low gear, a margin of slack capacity is opening up, and consumers are feeling less flush.

Source httpswww.reuters.commarketsususeconomicgrowthrevisedlowerfirstquarter20240530

Winners vs Losers

Metals are losing some of the gains earned as we move towards the end of the week. Silver is at 1.87 price change and nearly 17.33 gains this month so far. The U.S. dollar experienced big swings in value the last couple of days, yesterday it was weakening.

News Reports Monitor Previous Trading Day 30.05.2024

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