Gold pushes back above $3,300 on the dayOil struggle continues as OPEC+ moves to further boost productionHow have interest rate expectations changed after the US NFP report?Vietnam says first tariffs negotiation with the US to take place this weekSwitzerland April CPI 0.0% vs +0.2% y/y expectedEurozone May Sentix investor confidence -8.1 vs -12.5 expectedTaiwan central bank plays down speculation after currency surgeTaiwan central bank confirms intervening in the market todayECB's Panetta: Protectionism threatens to weaken prosperityPBoC Governor Pan: Global economic uncertainties are rising
Markets:
JPY leads, USD lags on the dayEuropean equities mixed; S&P 500 futures down 0.9%US 10-year yields down 2 bps to 4.300%Gold up 2.2% to $3,312.05WTI crude down 1.4% to $57.45Bitcoin down 1.7% to $94,111The dollar is once again on the weaker side, with a surge in the Taiwanese dollar earlier in the day sparking speculation of revaluation among currencies against the greenback. Still, the dollar struggled against the majors with USD/JPY slipping back under 144.00 and EUR/USD keeping around 1.1340 currently - up 0.4% on the day.
Besides that, there wasn't too much else as we continue to wait on how trade talks are going between the US and the rest of the world. Coming up later this week, Vietnam will be meeting with US officials to discuss their terms. So, look out for that.
In other markets, gold is once again lighting up in a push above $3,300 while oil is pressured as OPEC+ seeks to boost output further and that saw prices open with a gap down by over 3% earlier before paring some of that losses.
This article was written by Justin Low at www.forexlive.com. Read More Details
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