US-China trade talks in focus

Daily Analysis - 14/02/2019

Gold rises due to trade talks

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On Thursday gold prices went higher while weak U.S. inflation data boosted the expectations that the FED wish to suspend the rate hikes for 2019. Traders are watching the progress in trade talks between the U.S and China. Spot gold moved up 0.2% to $1,308.40 per ounce while the U.S. gold futures fell about 0.3% to $1,310.

U.S. consumer prices remained stable for 60 straight days in January, pointing to the poorest yearly rise in inflation in more than almost 2 years, which could provide the FED the ability to keep the interest rates cool for a while.

Greenback stronger while Euro falls


On Thursday the popular greenback stayed near the 60 days top against the euro. That fact was backed by sustained strength in weaker-than-expected data out of Europe and core U.S. inflation. The euro was exchanging under the important level of around $1.10 level at $1.1280.

While the U.S. inflation noted its slowest pace in almost 2 years last month, investors concentrated on the core price measure, that went up  for the third straight month.

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Oil prices getting stronger


On Thursday, Oil prices rose due to optimism that possible development in the latest China-U.S. tax discussions may improve the positive side of the global economic outlook but also the fact China's trade figures including crude imports beat forecasts helped as well. International Brent crude oil futures rose 37 cents and went up to $63.95 a barrel while the U.S. West Texas Intermediate (WTI) crude futures went up at $54.10 per barrel.

Confidence that a trade agreement may be achieved between the U.S and China was improved when Donald Trump stated that discussions were going "very well".

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Asian stocks traded cautiously


Trade talks between China and the U.S are going to take place in Beijing.  On Thursday afternoon Asia stock markets interacted very carefully while traders looked for development in the matter.

Reportedly the U.S. President Donald Trump may be thinking whether to extend the deadline for a trade deal. The Shenzhen composite rose more than 0.1% as the mainland Chinese markets remained mixed by the morning session's end The Shanghai composite slid more than 0.3% and Hong Kong's Hang Seng index dropped 0.37%.

 

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