KN Market View 2024-05-12

#KNMarketView

Equity markets continued with their positive trend after the first adjustment of the year boosted by technology companies' strong Q1 reports. This week all eyes will be on US inflation data (consensus 3.4%, previous 3.5%), also worth watching UK Unemployment Rate, Zew Economic Sentiment Index, US PPI and Building Permits, Japan GDP, and China Industrial Production. Retail Sales will be published for Türkiye, Indonesia, Colombia, South Africa, US, and China.

European equity markets led this week's rally with Germany +4.28% closing at its all-time high, Switzerland +4.26%, France +3.29%, Italy +3.06% and UK +2.68%.

Natural Gas +5.14% and Ethanol 3.72% continued with its positive trend, while Gasoline closed at its two month low. Potatoes prices jumped 53% due to extreme rain link, Eggs -22% closed at December's levels. Containerized Freight Index finished at its highest level since September 2022. Precious Metals outperformed broad commodities Silver +6.09%.