🔵Here are the most prominent market developments:
🔷 The dispute between President Trump and Federal Reserve Chairman Jerome Powell is escalating and reaching a peak.
⬅️ Trump returned on Monday and attacked Jerome Powell, describing him as a big loser and demanding that he immediately cut US interest rates.
🔷 Meanwhile, Jerome Powell continues to oppose a rate cut, which gave the markets an initial impression that Trump will soon dismiss Jerome Powell.
🔷These concerns increased demand for gold, pushing it to a new all-time high of $3,500 due to fears of a clash between the Federal Reserve and the White House.
🔷There are no significant market data releases today, and the focus remains on the effects of the trade war and the disagreements between Trump and Powell.