Disappointing economic data from the US weakened the dollar on Tuesday. In turn, the euro rose to $ 1.1836 after falling to $ 1.1771 in morning trading. US industry booked fewer orders in June than expected. The companies collected 0.8 percent more orders for durable goods such as airplanes and machines than in the previous month, according to the Department of Commerce in Washington. Experts had expected an increase of 2.1 percent, after 3.2 percent in May. “All in all, the incoming orders do not contradict a significant acceleration in growth in the second quarter,” said Helaba economist Ulrich Wortberg. However, inflationary pressure and shortages of materials and labor remain risks for the further upswing of industry and thus the economy as a whole. The International Monetary Fund (IMF) also expects consumer prices to rise more sharply around the world – but warned the central banks against rapidly abandoning the policy of cheap money until there is more clarity about the underlying price dynamics. Some investors therefore resorted to “safe havens” such as Bunds and thus pushed the return on ten-year inflation-indexed stocks to a two-year low of minus 1.792 percent. The “anti-inflation currency” gold also rose 0.4 percent to $ 1805 per troy ounce. Stockbrokers eagerly awaited the results of the Fed’s deliberations this Wednesday.
The oil prices rose again at times. Investors hoped that a tight supply and rising vaccination rates would help offset any impact the global delta variant of the coronavirus had on demand. A barrel of the Brent variety cost 75 dollars at times, 0.7 percent more than the previous day.