⭕The American President Donald Trump announces that his country has reached a trade agreement with China, indicating that America will receive a total tariff of 55% while China will receive 10%
⭕Shortly after Trump's announcement, inflation data in America for May was released, showing a slowdown in inflation on a monthly basis and a rise on an annual basis
⬅️How did global markets react to these developments?
▪️Gold futures maintain their gains and are trading up by about 1%, recording levels of $3379.9 per ounce, waiting for confirmation from the Chinese side
▪️Oil prices maintain their gains at their highest level in nearly two months, amid optimism that the agreement will contribute to stimulating global economic activity and demand for crude
▪️Brent crude futures rise by about 1.4% to $67.82 per barrel, and U.S. crude futures increase by 1.7% to $66.09 per barrel
▪️U.S. index futures are up, amid optimism about improved confidence with the two largest economies in the world reaching a trade agreement, with Dow Jones futures rising by more than 100 points, and S&P 500 futures by about 0.4%
▪️The yield on U.S. Treasury bonds decreases slightly to 4.45%