The recent rise in metal prices has dominated the headlines, but as prices of gold, silver, and copper hit new highs, traders may need to weigh the possibility of further inflation increases and reassess the impact of these trends on the global economy.
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On May 22, local time, the National Association of Real Estate Brokers released a set of data showing that the sales of existing homes in the United States fell by 1.9% in April this year, and the sales volume was lower than market expectations, which caused widespread concern.
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On May 16, Japan released an economic data showing that after adjusting for price changes, Japan's gross domestic product (GDP) in the first quarter of 2024 fell by 0.5% quarter-on-quarter, and the year-on-year decline reached 2.0%.
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On May 16, local time, according to the preliminary statistics released by the Japanese Cabinet Office, in the first quarter of this year, Japan's real GDP fell by 0.5% month-on-month, and if calculated at an annualized rate, the decline was about 2.0%.
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Last week, copper futures prices on the New York Mercantile Exchange (COMEX) surged to a historic high. Especially for the main July contract, the price reached a high of $11200 per ton at the close of last Friday, with a weekly increase of over 9%. The increase in copper prices has increased the procurement costs of downstream enterprises, which has had a negative impact on the operation and export competitiveness of the manufacturing industry.
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Recently, the White House released a budget proposal for the fiscal year 2025, which shows that budget expenditures will reach $7.3 trillion, an increase of $400 billion from the fiscal year 2024.
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According to statistics, the contribution rate of domestic demand and external demand to Japan's economic growth in the first quarter of this year is negative, and the actual GDP fell by 0.5% quarter-on-quarter and 2% on an annualized basis, which is a negative growth phenomenon after the fourth quarter of last year.
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At present, American consumers may have reached the limit of consumption.
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The Japanese government recently stated that from January to March this year, the Japanese economy contracted at an annual rate of 2.0%, marking the first contraction in two quarters.
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The global rate cut refers to the action of central banks in multiple countries to reduce their benchmark interest rates. This trend usually reflects changes in the global economic situation, such as slowing economic activity and easing inflationary pressures.
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In the past month, the price of tomatoes in Nigeria has risen greatly. Although the country will have seasonal tomato price rises in June and July every year, the increase rate has increased significantly compared with the previous one, and the price is close to 20 times, so the impact of various aspects is more extensive.
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