Gold slid about 2% on Thursday to its lowest level in over a month as investor appetite for the safe-haven metal decreased after a U.S. official confirmed that Washington and China agreed to roll back tariffs as part of the first phase of a trade deal.
Technical Resistance: 1480/1491
Technical support: 1460/1443
Optimism progress in U.S.-China trade talks
China and the United States have agreed to roll back tariffs on each other’s goods as part of the first phase of a trade deal, officials from both sides said on Thursday, in further signs of progress even as both side continue to haggle over several contentious issues.
Bank of England surprises as two officials back rate cut
The BoE said that its nine-member Monetary Policy Committee voted 7-2 to keep its key rate at 0.75%, in sharp contrast to forecasts in a Reuters poll for a unanimous decision.
The People’s Bank of China (PBOC) set the midpoint rate at 6.9945 per dollar
China’s central bank lifted on Friday its official yuan midpoint to the highest level in over three months, breaching a key threshold, to reflect market optimism after Beijing and Washington agreed to roll back tariffs on each other’s goods if they reach a preliminary trade deal.
Source: Bloomberg, CNBC, Reuters