Investing.com-- Gold prices fell slightly in Asian trade on Monday, giving back some of last week’s gains after U.S. President Donald Trump over the weekend reneged on his threat to immediately impose 50% tariffs on the European Union.
U.S. futures jumped Monday and Asian shares mostly fell after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union until July 9. Trump announced the decision after a call Sunday with Ursula von der Leyen, the president of the European Commission, who said she “wants to get down to serious negotiations,” according to the U.S. president’s retelling. Last week, Trump said on social media that trade talks with the European Union “were going nowhere” and that “straight 50%” tariffs could go into effect on June 1.
U.S. futures jumped Monday and Asian shares mostly fell after U.S. President Donald Trump said he would delay a threatened 50% tariff on goods from the European Union until July 9. Trump announced the decision after a call Sunday with Ursula von der Leyen, the president of the European Commission, who said she “wants to get down to serious negotiations,” according to the U.S. president’s retelling. Last week, Trump said on social media that trade talks with the European Union “were going nowhere” and that “straight 50%” tariffs could go into effect on June 1.
(Bloomberg) -- Chinese stocks are expected to benefit from further gains in the yuan, which has been showing resilience amid the country’s trade spat with the US, according to strategists at Goldman Sachs Group Inc.Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyUAE’s AI University Aims to Become Stanford of the GulfNYC’s War on Trash Gets a Glam SquadPacific Coast Highway to Reopen Near Malibu After January FiresEvery 1% appreciation of the yua
BEIJING (Reuters) -Oil prices recorded limited gains on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy. Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel by 0653 GMT while U.S. West Texas Intermediate crude was up 17 cents, or 0.28%, at $61.7 a barrel. "A nice push higher in crude oil and U.S. equity futures this morning after U.S. President Trump extended the deadline," IG market analyst Tony Sycamore said.
TOKYO (Reuters) -The euro jumped along with risk-sensitive currencies like the Australian dollar on Monday after President Donald Trump backed down from threatened 50% duties on European Union shipments from June 1, after the bloc asked for time to "reach a good deal." The dollar continued its slump against a broad swathe of currency peers as Trump's policy reversals, as well as his sweeping spending and tax-cut bill currently in legislation, turned investors off from U.S. assets. "The 'Sell America' theme, which obviously was the dominant theme back in April, is back on show," said Ray Attrill, head of FX research at National Australia Bank.
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See which market issues Jay Woods thinks are most important now.