Gold prices tumbled over 3% on Monday, following improvements in risk appetite after weekend discussions between the US and China, which agreed to a 90-day tariff reduction. At the time of writing, the XAU/USD trades at $3,225, having hit a daily high of $3,326. Wall Street registers gains in the aftermath of the US-China deal, in which both countries lowered duties and agreed to sustain further talks to reach a trade agreement following a meeting in Switzerland. Washington and Beijing agreed to lower duties from 145% to 30% and from 125% to 10%, respectively, as revealed in a joint...
The Australian Dollar (AUD) is facing downward pressure as global trade dynamics shift, particularly between the United States (US) and China. Despite signs of stronger Chinese copper production, trade agreements and Federal Reserve (Fed) policies continue to shape investor sentiment, with the Fed expected to hold rates steady through the next few months. USD surges as trade war coolsThe US Dollar gains as the DXY approaches key resistance levels after news of a 90-day tariff pause between the US and China.China's copper production shows signs of expansion, alleviating concerns about global...
The USD/JPY pair is trading near 148.00, up approximately 2% on the day, as risk-on sentiment dominates global markets following a significant breakthrough in US-China trade relations. Over the weekend, the two economic giants agreed to a 90-day tariff reduction, with the US cutting its tariffs on Chinese imports to 30% (from 145%) and China reducing its duties to 10% (from 125%). This temporary de-escalation has sparked a rally in risky assets, weighing on traditional safe-haven currencies like the Japanese yen. The US Dollar has surged in response to the trade truce, supported by a sharp...