Gold eased back from Monday’s all-time peak, while crude oil declined on worries of U.S. interest rates staying high for longer
Stocks drifted lower while the dollar held firm on Tuesday as investors awaited minutes of the Federal Reserve’s latest policy meeting to gauge the timing and extent of possible interest rate cuts this year.
Traders rushed to rebuild easing bets after data earlier this month showed consumer price pressures eased in April following three months of upside surprises at the start of the year. In early trading, Britain’s FTSE 100 fell 0.5 per cent, Germany’s DAX gave back 0.39 per cent and France’s CAC 40 retreated 0.78 per cent.
At the same time, record highs for metals such as gold and copper “is being pointed to as a signal economic activity is improving globally, and that may be a factor keeping inflation sticky,” Rodda said.
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