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Global PMIs up, Rate worries, but US shares up, What is gold telling us?
Major share markets were flat to down over the last week as uncertainty returned around the timing of interest rate cuts after hawkish minutes from the Fed’s last meeting, stronger business conditions data and a smaller than expected fall in UK inflation. US shares were flat for the week though, helped by another strong result from Nvidia as the AI boom continues and a rally on Friday on lower-than-expected inflation expectations. However, Eurozone shares fell 0.6% for the week, Japanese shares fell 0.4% and Chinese shares fell 2.1%. The Australian share market fell 1.1% for the week on the back of the weak global ... (full story)