World Markets Calm As First Half Of 2017 Winds Down

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
(Kitco News) – World stock markets were narrowly mixed in quieter dealings overnight. U. S. stock indexes are headed toward slightly higher openings when the New York day session begins.
Gold prices are weaker again in pre-U. S.-market trading. The quieter geopolitical front and bearish technical charts have helped to push the safe-haven metal’s prices lower recently.
The world government bond markets’ sell offs that have hit most of the world this week spread to Asia on Friday. A soft inflation report from the Euro zone did put a damper on the sell-off in European government bonds. The EU Statistics Agency on Friday reported that Euro zone inflation in June was up 1.3% from the same time last year. The reading in May was up 1.4%. The June number was the lowest this year and falls into the camp of the Euro zone monetary policy doves, who want to see the ECB’s easy-money policies hang on for a longer period of time.
Friday is an extra important trading day from a technical perspective. It’s the last trading day of the week, of the month, of the quarter, and of the first half of the year.

This post was published at Wall Street Examiner by Jim Wyckoff ‘ June 30, 2017.