⭕U.S. 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 for the U.S. for May was released, showing a slowdown in monthly inflation and an acceleration on an annual basis
⬅️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 the 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 for improved confidence as the two largest economies in the world reach a trade agreement, with Dow Jones futures up over 100 points, and S&P 500 futures by about 0.4%
▪️The yield on U.S. Treasury bonds declines slightly to 4.45%