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Gold opens weekly trading on stability in the US interest rate

2019-07-29 09:21 am | Resource: News | No Views : 27

 Gold opens weekly trading on stability in the US interest rate

Gold prices were steady as traders watched the US currency track during the Federal Reserve meeting and expectations of a quarter-percentage point cut in US interest rates. In another framework from Tuesday to two days, US officials will hold trade negotiations with their Chinese counterparts in Shanghai, the first face-to-face talks between the two sides since a truce was reached in their trade war.

US stocks slightly lower with a focus on trade

Wall Street stocks fell slightly before Monday ahead of the upcoming US-China trade talks. At the same time, US President Donald Trump refused to rule out the possibility of intervening in the value of the dollar over the weekend. The president also proposed that Apple. Opened a factory in Texas to avoid US tariffs.

US President Donald Trump at the White House said the dollar was "very strong" as a "currency of choice" and played down the importance of the fundamentals behind the euro and the yuan, and their core economic strength. However, at the same time, he said that the appreciation of the US currency, "the beautiful thing in one way", makes the "tougher competition."

Did not rule out the possibility of intervention in the foreign exchange market. "I did not say I would not do anything," he stressed, although Larry Kudlow, director of the National Economic Council, said earlier that intervention in exchange rates was "ruled out" as government policy.
  • The Dow Jones Industrial Average and the S & P 500 were flat at 10:30 am.
  • While the Nasdaq 100 fell 0.14%.

Meanwhile, the dollar index, which measures the performance of the greenback against a basket of six currencies, stabilized at 98.08 points. Where the euro fell 0.08% against the dollar at 4:29 am to $ 1.1112, while the pound fell 0.38% against the dollar at the same time to 1.23352 dollars.

 Gold Trading


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