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