Skip to content Skip to footer
the conference board reports that consumer condifence stalls

U.S Consumer Confidence, Germany’s DAX 30 reaches a New High & Gold Prices Continue to Rise

U.S. indices consolidate as consumer confidence eases

U.S. indices remained static on Tuesday as markets reacted to the news that consumer confidence levels eased in May.

Data released by the Conference Board showed that its U.S. Consumer Confidence Index for May rose less than expected at 117.2.

After initially rising to 121.0 the month prior, many had expected this month’s figure to come in at 119.2. However Tuesday’s report halted progress in the index’s markets.

Wall street’s main Indices like the S&P 500 were edging closer to all-time highs, after consecutive sessions in the green. They now trade slightly lower on the news.

As of writing, both the Dow Jones and S&P 500 were marginally down.

DAX 30 records new high despite GDP data

Germany’s Dax 30 rose to an all-time high in today’s trading session, despite data showing that the country’s economy had shrunk in Q1.

Figures released from the European Union’s largest economy showed that GDP contracted more than expected in the first quarter. Falling by 1.8%.

It was anticipated that GDP would decline by 1.7% quarter on quarter and by 3% on the year. However both declined by 0.1% more than expected.

One of the key contributors to the decline was household spending. Which fell by 5.4% in the quarter, as more Germans opted to save.

The country’s savings rate reportedly rose to a record 23.2%, as lockdowns and travel bans prevented citizens from socialising.

Despite this, the DAX was up 0.18% despite the news.

Gold climbs to 4-month high

Gold climbed to its highest level since January 8th on Tuesday, as prices of precious metals rose across the board.

Typically seen as a safe haven asset, XAUUSD rallied to an intraday high of $1,898 as U.S. consumer confidence eased this month.

Recent weeks have seen the gold price rise. As economic data from the U.S. showed rising inflation, as well as slowing jobs growth.

Last month’s Non-farm payrolls was the catalyst of this, coming in close to 700,000 less than expected, whilst retail sales also slowed.

Many believe that the impact of President Biden’s stimulus $1.2 trillion rescue package has somewhat faded. Leading to many calling for interventions from the Fed.

As of writing, XAUUSD was held below its intraday high.

Quote of the day – “The goal of a successful trader is to make the best trades. Money is secondary.”

– Alexander Elder

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.