Before the weekend, a growing risk aversion of investors helped the crisis protection to a stable week end.
At the weekend, an important meeting of the seven largest economies takes place in Canada. In the run-up to the event, the hope for progress in the dispute over international trade relations is obviously limited. However, capital flight from emerging economies such as Brazil is also currently presenting itself as a significant problem.
With a renewed increase in interest rates expected next week in the USA , this is more likely to be a source of unrest than relaxation. In such an environment, investors seem to be reducing their risk somewhat before the weekend.
On Friday afternoon, the gold price presented itselfwith held quotations. Until around 2.30pm (CEST), the most actively traded futures contracted for gold (August) by $ 0.60 to $ 1,302.40 per troy ounce.
Crude oil: offer of OPEC in descent
Arguably, the actors on the energy markets are following the news on the supply side. While OPEC members are currently emerging from deliberate production cuts and involuntary delivery shortfalls, the US is still experiencing a record-breaking promotional boom.
The EIA, for example, reported daily oil production averaging 10.8 million barrels per day by midweek, surpassing the comparable prior-year level by more than 15 percent.
New impetus could now provide the scheduled for 19.00 clock weekly report of the US service company Baker Hughes their weekly report on the North American drilling activities. Should there be any surprises, this should also significantly influence the trade launch in the next week.
On Friday afternoon, the oil price presented itself with somewhat weaker prices. Until around 2.30pm (CEST), the next maturing WTI future (July) declined by $ 0.24 to $ 65.71, while its counterpart in Brent (August) fell by $ 0.51 to $ 76.81.