Further on the US-China trade spat, at the G7 Summit, the US President Trump said that the US is in a much better position now than at any time in negotiations with China.
When asked about possible China tariffs delay, "anything is possible", he noted.
He said that the US has not discussed monetary policy at the G7, may discuss that later.
He also tweeted: "Great respect for the fact that President Xi & his Representatives want "calm resolution." So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!"
The improved risk tone across the financial markets in Europe remains intact amid the latest Trump comments. The Aussie looks to 0.68 handle now while Gold shaved-off gains to trade below 1540 levels.
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EUR/USD keeps bullish vibe, first upside target emerges near 1.1400
EUR/USD holds steady near 1.1360 in Monday’s Asian session. The positive view of the pair prevails above the key 100-day EMA with the bullish RSI indicator. The Greenback steadies as traders are confused by mixed signals on US-China trade relations.
GBP/USD consolidates around 1.3300 mark; downside potential seems limited
GBP/USD lacks any firm intraday direction and oscillates in a range at the start of a new week. The USD preserves last week’s recovery gains from a multi-year low and acts as a headwind. Bets for a less dovish BoE and hopes for a UK-US trade deal to limit the downside for the major.
Gold price languishes below $3,300; last week’s swing low holds the key for bulls
Gold price meets with a fresh supply on Monday amid the US-China trade deal optimism. A fall in China’s gold consumption and a modest USD uptick also weigh on the commodity. Trade-related uncertainties and Fed rate cut bets warrant caution for the XAU/USD bears.
Bitcoin and Ethereum stabilize while Ripple shows strength
Bitcoin and Ethereum prices are stabilizing at around $93,500 and $1,770 at the time of writing on Monday, following a rally of over 10% and 12% the previous week. Ripple price also rallied 8.3% and closed above its key resistance level last week, indicating an uptrend ahead.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
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