Trump: There is no rush for denuclearization

Daily Analysis - 28/02/2019

Trump said he made the biggest progress with Kim

On Thursday the U.S. President Donald Trump stated that there is no rush for North Korea immediately giving up its nuclear weaponry. The announcement came out in a short statement before further discussions with the dictator ruler, Kim Jong Un.

Rather, Trump stated that he is satisfied that there was no indication North Korea had carried out new nuclear or ballistic rocket experiments in more than a year. The president said, "Speed is not that important to me," "I very much appreciate no testing of nuclear rockets, missiles, any of it — very much appreciate it."Trump added, "I am in no rush — just we don't want the testing and we've developed something very special with respect to that".

Gold near 14-day’s lows

On Thursday Gold continued to hover near to 24-day’s lows that reached in the previous session. And that was while the greenback recovered following the wary remarks from the U.S. Trade Representative Robert Lighthizer that depressed traders' expectations for an end to the tax war with China.

The popular spot gold and the U.S. gold futures fell about 0.1% to $1,318.49 and $1,320.09 per ounce each.

The yellow and safe-haven metal fell to its weakest level since the middle of this month to $1,316.40 in the previous session and lost for the first time in more than 4 months.

U.S. crude futures and international Brent fell

On Thursday, Oil Prices were pulled down by the rising American crude oil production. It has increased by more than 2 million barrels per day over the past year, to an unusual 12.1 million bpd. U.S. West Texas Intermediate crude oil futures fell to $56.92 per barrel, and that is about 2 cents below their last settlement. The International Brent crude futures also fell to $66.14 per barrel, down 24 cents, from their last conclusion. Many investors stated that China’s declining economy further weighed on oil prices.

Greenback is looking good

On Thursday the greenback continued to hold strong above a 21-day low while traders continued to be wary due to risk covering the development in U.S.-China trade talks.

The sterling also surged on the fact that a no-deal Brexit probably is not going to happen.

The USD secured its profits earned through the previous session following U.S. Trade Representative Robert Lighthizer that told a Congressional hearing it was too early to prognosticate a result in U.S.-China trade negotiations. The dollar was also supported by the new tensions between India and Pakistan granting investors the chance to get out of riskier markets.

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