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Gold price plunges over $100 as US-China deal fuels USD rally

2 days ago | fxstreet.com | Christian Borjon Valencia

XAU/USD plunges over 3% to $3,225 as improved risk sentiment and surging DXY weigh heavily on Bullion. US-China agree to 90-day tariff rollback; DXY jumps 1.25% to 101.74, pressuring Gold prices sharply. US Treasury yields rise as Fed cut bets cool; traders now expect only two cuts in 2025. Eyes now on US CPI, PPI and Retail Sales data for fresh policy direction.
Nike stock holds onto rally after lowered China tariffs

2 days ago | fxstreet.com | Clay Webster

NKE stock clings to large gains following lowered China tariffs. The Trump administration brought China tariffs down from 145% to 30% on Monday. Nike sources about 15% of its global brand sales from Greater China. Shareholders want to see the trade deal with Vietnam finalized next. Nike (NKE) stock is holding onto its gains deep into Monday's morning session. The broad US stock market is surging following the Trump administration's pause on sky-high China tariffs.
GBP/USD crashes on US-China trade truce boosting US Dollar

2 days ago | fxstreet.com | Christian Borjon Valencia

US-China agree on 90-day tariff rollback; US cuts to 30%, China to 10%, easing global recession fears. US Dollar rallies on deal optimism; DXY up over 1% to highest since April 10. UK traders brace for busy week with jobs, GDP and manufacturing data as BoE officials strike cautious tone. The Pound Sterling (GBP) collapsed by over 0.71% or 90 pips on Monday, following developments over the weekend that boosted the US Dollar (USD).
NASDAQ futures surge 4% as Trump curtails China tariffs for 90 days

2 days ago | fxstreet.com | Clay Webster

Trump administration agrees to 90-day pause on higher tariff levels with China. Both nations will lower current tariff rate by 115 percentage points. NASDAQ 100 Futures spike above 4.1% in the premarket. US Treasury Secretary says Trump administration aims for "strategic decoupling" with China. US stocks on Monday are thrilling to the Trump administration's tariff pause with China over the weekend.
USD/CHF rallies to one-month top, beyond mid-0.8400s as US and China agree to lower tariffs

2 days ago | fxstreet.com | Haresh Menghani

USD/CHF catches aggressive bids at the start of a new week amid the US-China trade deal optimism. Easing US recession fears and the Fed’s hawkish pause boost the USD and also support spot prices. The upbeat market mood undermines the safe-haven CHF and provides an additional lift to the pair. The USD/CHF pair builds on its modest gap-up opening at the start of a new week and gains strong positive traction during the early part of the European session.
BoE’s Lombardelli: Caution remains appropriate

2 days ago | fxstreet.com | Dhwani Mehta

Bank of England (BoE) Deputy Governor for Monetary Policy Clare Lombardelli said on Monday, “caution remains appropriate” on policy outlook. Evidence suggests that policy is still restrictive. Wage growth is still too high for on target inflation. Wages are my main focus when looking for disinflation. Further gradual disinflation progress and trade developments made 25 basis points (bps) rate cut appropriate.
US Dollar Index (DXY) surges past 101.00, hits one-month top on US-China trade deal optimism

2 days ago | fxstreet.com | Haresh Menghani

The USD regains positive traction following Friday's modest downtick and jumps to over a one-month high. The US-China trade deal optimism eases recession fears and boosts the USD amid the Fed's hawkish pause. The benchmark 10-year US Treasury yield touches a nearly one-month high and further benefits the buck.
USTR Greer: Both sides very committed to the 90-day pause period

2 days ago | fxstreet.com | Dhwani Mehta

US Trade Representative (USTR) Jamieson Greer is speaking at the scheduled briefing on the first round of high-level US-China trade talks held over the weekend in Geneva, Switzerland. There was mutual respect and understanding between both sidesEffective embargo was not a sustainable practice for both sides. Both sides are very committed to the 90-day pause period. Fentanyl issue remains unchanged for now. We ended up with a result that is very good for the US and for China.
US Treasury Sec. Bessent: Both sides on reciprocal tariffs will move down 115%

2 days ago | fxstreet.com | Dhwani Mehta

US Treasury Secretary Scott Bessent is speaking at the scheduled briefing on the first round of high-level US-China trade talks held over the weekend in Geneva, Switzerland. We have reached an agreement on a 90-day pause and substantially moved down tariff levels. Both sides on reciprocal tariffs will move down 115%. Very good personal interaction, both sides represented national interests well.
Breaking News: US to lower tariffs on China from 145% to a base 10%, 20% fentanyl levy for 90 days

2 days ago | fxstreet.com | Dhwani Mehta

The highly anticipated joint US-China statement on the first round of high-level US-China trade talks held over the weekend in Geneva, Switzerland, is out, stating that “the US will modify application of rate of duty on articles of China by suspending 24 percentage points of that rate for initial period of 90 days.”US will retain remaining rate of 10 % on those articles.