Trump and Emmanuel Macron talked about taxes

Daily Analysis - 27/08/2019

A draft agreement between US and France reached

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The US and France have struck a settlement agreement regarding France’s digital tax. Digital tax is a duty which urged Donald Trump the U.S president to warn France that he will impose also a tax on French wine imports. The draft deal will be presented to French President Emmanuel Macron and the US President Donald Trump later on Monday at a G7 leaders’ summit in Biarritz. A source informed Reuters. Trump’s advisor is OK with the proposal,” “That would be the mechanism at this stage, that’s the joint proposal.”

Gold in a range


On Tuesday, the famous yellow metal Gold remained mostly calm in a range, returning from an over six-year top-scored in the previous trading session. That happens while US President Donald Trump talked about a potential settlement with China, lowering concerns regarding an increase in the already harmful trade war. Spot gold went up 0.1% to $1,528.09 per ounce. On Monday Gold rose to its most important in more than six years exceeding the $1,550 point in early trade. After that, Gold gave back its profits due to the decrease of the tensions between the US and China.

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Oil rises over trade war easing


On Tuesday oil prices increased following the US President Donald Trump prediction regarding a trade deal with China. The prediction came after the positive remarks by China that created a more peaceful environment after a series of tariff threats that once again stressed the markets. The U.S. crude went up by 30 cents at $53.93 a barrel while Brent crude went higher by 25 cents, at $58.94 a barrel after the 1% drop in the previous session, which marked a 3 days drop in a row.

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Yen on the positive side


On Tuesday the safe haven Japanese yen advanced while some traders softened their confidence regarding the possibilities for a quick resolution to the US-China trade conflict, which increased so-called risk-off trades.

Markets all around the world have been up and down due to exciting twists in the trade fight this month. On Monday Donald Trump signaled the likelihood of a trade agreement with China, days after both counties published new tariffs to each other.

The greenback developed further pressure versus the yen while a drop in US Treasury yields revealed that some traders yet supported the protection of government debt.

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