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Representatives from the US and China are negotiating in London, with an urgent need for an agreement as trade between the two nations plummeted in May. The DAX is facing uncertainty due to potential tariff policy changes, with a critical support level at 24,212 points that, if breached, could signal a trend reversal.
Oil prices rose as US-China trade talks continued, with Brent crude reaching $67.26 a barrel and West Texas Intermediate at $65.47. The discussions aim to ease trade tensions, potentially boosting fuel demand, while OPEC's output increase and Iran's nuclear negotiations pose risks to global supply.
Gold prices fell on Tuesday, impacted by a rise in the US dollar as traders awaited updates from ongoing US-China trade talks. Spot gold decreased by 0.6% to $3,307.72 an ounce, while US gold futures dropped 0.8% to $3,327.50. The dollar index's 0.3% increase made gold pricier for holders of other currencies, with market sentiment remaining cautious until progress is made in negotiations between the two economic powers.
The Australia 200 index surged to a four-month high of 8592, buoyed by optimism from US-China trade talks and a strong US jobs report. Consumer discretionary stocks rose on hopes of interest rate cuts, while the financial sector hit a record high, despite mixed performance in mining stocks due to weak Chinese inflation data. Uranium stocks experienced significant gains, with Paladin Energy leading the charge. However, concerns linger about the sustainability of these gains, as analysts watch for potential signs of a market pullback.
US equity markets rose following a strong jobs report and the commencement of trade talks with China, focusing on tariffs and rare earth exports. While China has signaled increased rare earth exports, no significant tariff agreements have been reached, leaving markets cautious. Upcoming economic indicators include the consumer price index and producer price index, with expectations of moderate inflation and potential interest rate cuts by the Federal Reserve.
UAE stock markets closed higher on Monday, buoyed by optimism surrounding US-China trade talks in London. Dubai’s benchmark index reached its highest level since 2008, rising 1%, with notable gains from Salik Company and Deyaar Development. Abu Dhabi's index also increased by 0.1%, supported by advances in Aldar Properties and Abu Dhabi National Energy Company, while most Gulf markets remained closed for a public holiday.
US-China trade talks resumed in London, focusing on export controls impacting global supply chains amid rising tensions, particularly over critical sectors like semiconductors and defense. China's exports to the US fell 34.5% in May, the largest drop since early COVID-19, highlighting the urgency of these negotiations. Both nations are navigating competing priorities, with the US aiming to bolster domestic rare earth production while China seeks to maintain its industrial edge.
Bitcoin's price surged past $107,000 during Europe's afternoon trading, following a morning below $106,000. This rally liquidated approximately $60 million in short positions, coinciding with significant whale activity on the decentralized exchange Hyperliquid, where over $5 million was deposited to open a leveraged long position.The price increase is likely tied to renewed optimism surrounding US-China trade talks, with delegations from both nations arriving in London to negotiate a resolution on tariffs. The US team is led by Treasury Secretary Scott Bessent, while the Chinese delegation is headed by Vice Premier He Lifeng.
Oil prices dipped on Monday due to weak data from China, with Brent crude falling to $66.29 and WTI to $64.43. Despite this, last week's gains were largely retained as investors remained optimistic about upcoming US-China trade talks, which could enhance global economic prospects and oil demand.China's exports growth slowed, and crude oil imports hit a four-month low amid maintenance by refiners. Analysts noted that while OPEC+ plans to increase supply, the potential for a trade deal may mitigate immediate concerns about oversupply.
DP World Trade Finance and J.P. Morgan have partnered to address a $2.5 trillion global trade finance gap, enhancing access to working capital in emerging markets. Their first collaboration funded cocoa procurement in the Ivory Coast, boosting local liquidity by over $70 million. This initiative reflects a growing trend in trade finance innovation, with integrated logistics-finance models aimed at supporting SMEs traditionally overlooked by lenders.
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