The fluctuating commercial policies of the president of USA, Donald Trump -Importing and delaying tariffs to Canada and Mexicowhile raising the levies to Chinese products- the world financial markets agreed. In responseChina and Canada They counteratacious with their own tariffs.
In that framework the Euro Stoxx 50 fell 0.3%, earlier the main Asian indices recorded majority of casualties-
Gold is still close to the historic record for the commercial war
The gold in cash earned 0.3%, au $ the ounce, about $ 16 from the historical maximum. Due to the economic uncertainty caused by US tariffs, The ingot reached a historical maximum of US $ 2,956.15 dollars on February 24.
Gold futures in the United States rose 0.1%, au $ 2,950.80.
“Gold is still supported by the perspective of An economic slowdown driven by tariffs, which could advance the expectations of cutting fees of the Federal Reserve, “said Ole Hansen, of the Saxo Bank.
“I maintain My bullish posture about goldwaiting for an economic deceleration or even stagflation to boost the demand and the price of rising gold, “he added.
In other precious metals, La Plata The cash fell 0.6%, au $ s33.03 the ounce; Platinum lost 1.2%, au $ S972.7; and The paladium It dropped 0.5%, Au $ S944.07.
Oil
Oil prices fell on Thursday, after having risen in the previous session due to A higher reduction of expected in US gasoline reservessince markets weigh the macroeconomic concerns in the expectations of a firm short -term demand.
Brent’s futures fell 0.56% au $ S70.55 a barrel, while American crude oil West Texas Intermediateand 0.6% fose au $ 67.25 the barrel.
Both referentials rose around 2% on Wednesdayafter US government data showed inventories of oil and fuel lower than expected.
American gasoline inventories fell by 5.7 million barrels, more than 1.9 million barrels expected by analysts, while distillate stocks also fell more than expected, despite the increase in oil stocks.
Euro is still recorded as well as the pound
The euro and the pound sterling traded near maximum of several months against the dollar on Thursday, with the green ticket still under pressure for the concerns about the slowdown in economic growth and while Germany debate high -range tax reforms.
The increase in world commercial disputes and concerns about recession risks in the United States shook world markets and caused great volatility in currencies, While operators range between relief and anguish due to the policy changes of US President Donald Trump.
On Wednesday, Trump threatened new tariffs to the European Union and Canada having taken reprisals for those who are already in force, but in terms of transatlantic currency pairs at least The proposals did more damage to the dollar than the European currencies.
The euro quoted at $ 1,0880with a slight descent, but about five months touched this week, and The pound operated stable at $ 1.2963.
The euro received additional support from the German Fiscal Recajuste Plan. The outgoing house of the German Parliament will celebrate a special session on Thursday to discuss the fund of 500,000 million euros for infrastructure and radical changes in indebted rules to reinforce the defense.
Source: Ambito
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