US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by...
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 dollar surged on Monday as the United States and China reached a deal to temporarily cut reciprocal tariffs, easing concerns a trade war between the world's two biggest economies could lead to a global recession. The U.S. will reduce extra tariffs it imposed on Chinese imports in April to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125%, effective for 90 days. The de-escalation surpassed investor expectations, with many expecting an introductory round of talks with few, if any, agreements. "It's 90 days and so this basically buys some more time, I sort of...
Brent Crude Oil has extended gains at the start of the trading week, buoyed by a temporary easing in geopolitical tensions and improving macroeconomic sentiment. As of publication time, Brent is trading at approximately $65.40 per barrel, marking a 2.37% gain on the day. The move follows an agreement between the United States (US) and China to reduce and suspend certain tariffs for a 90-day period—an initiative widely seen as a de-escalation of trade hostilities and a potential catalyst for global economic stabilization. The bilateral tariff truce is currently the principal driver of risk...
Gold (XAU/USD) sinks more than 3.0% at the start of the European trading session and heads towards $3,231 at the time of writing as after US and China have brought some low-hanging fruit for the equity markets. China has agreed to lower its tariffs on the United States (US) to 10% from the initial 125%, while the US will lower its tariffs on China to 30% from 145%, both for 90 days. The announcement caused a risk-on wave in markets, with investors fleeing from safe-haven assets such as Gold. US President Donald Trump on Friday already hinted at the possibility that the talks could be...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, exceeds a more than 1% rally on Monday after China and the United States (US) agreed to a 90-day pause in their trade war by slashing tariffs on both sides. After a weekend of discussion, US Treasury Secretary Scott Bessent announced the defusing of the trade war between the two nations: China will lower its tariffs on US goods to only 10% from the original 125%, while the US will do so to 30% (from 145%) on Chinese goods, both for 90 days, Bloomberg reports. The news sent the US...