Volatility in the financial markets decreased ahead of central bank meetings in Australia, Canada, and Europe

US stock exchanges were closed on Monday due to the banking holiday.

The famous airline Ryanair has abandoned its plans to buy Boeing 737 Max 10 planes. The reason is the too high price of the airliners. Ryanair is now considering options with the purchase of competitive aircraft from Airbus.

Gold prices are slowly but surely rising. From a fundamental point of view, the soft monetary policy contributes to the growth of precious metal prices. Therefore, gold and silver prices tend to rise before the announcement of the “tapering” (QE program cutting).

The price of aluminum jumped to a maximum of more than 10 years against the background of the state coup in Guinea, which put under threat the supply of the metal from that country.

Oil prices fluctuated around $70 per barrel of the WTI brand. The situation in the oil market remains uncertain. On the one hand, oil prices are affected by a slowdown in demand in Asia and the US, amid a growing number of Delta cases. On the other hand, global demand for oil is still significantly higher than the supply, which should contribute to the growth of prices.

China’s trade surplus surged to $58.34 billion, the highest since January. Exports increased by 25.6% compared to the previous year, and growth in July was 19.3%. Imports increased by 33.1% year-over-year and exceeded analysts’ expectations, who had expected negative data because of port closures due to COVID-19.

The Reserve Bank of Australia (RBA) kept interest rates at record lows and left monetary policy unchanged. Previously, Australia had intended to begin cutting stimulus from September this year, but the economic recovery was interrupted by the Delta outbreak and restrictions imposed across the country. The country’s GDP is expected to fall substantially in September and the unemployment rate is expected to rise in the coming months.