Precious metals turn higher despite recent fears of a more patient Fed

BoJ hike unlikely to be replicated, with inflation decline helping to weak JPY. Precious metals turn higher despite recent fears of a more patient Fed. A mixed affair in European markets this morning sees the FTSE 100 struggle for direction as mainland indices push upwards. Nonetheless, we have seen a short period of outperformance in Europe, that could continue if the Federal Reserve continue to struggle in their bid to normalise inflation in time for the perceived June rate cut.

Meanwhile, the prospect of an impending period of monetary easing in Europe has sparked the likes of the DAX and FTSE 100 into life, with European indices enjoying a period of strength that has gradually awoken traders to the relatively affordable valuations offered in the region. Overnight, the Japanese BoJ core CPI inflation read-out served to highlight why the recent historic rate rise will likely be a one-and-done scenario. The decline from 2.6% to 2.

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