Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after a Trump Tweetstorm moves global markets.
Investing.com – Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth.
Bitcoin’s revival hit a speed bump Friday afternoon as the No. 1 digital currency turned lower, putting a milestone in jeopardy.
The dollar moved lower following commentary from President Donald Trump who did and interview and a follow up tweet describing his displeasure with the rise in interest rates, along with the rise in the dollar. This helped gold prices gain a foot hold and move higher. Gold prices were unable to take out the prior days lows and has generate a reversal pattern that could test higher prices.
Elsewhere, the Australian dollar was higher, with AUD/USD up 0.83% at 0.7416, while NZD/USD rose 0.85% to 0.6801. The loonie was higher against the greenback, with USD/CAD down 1.11% to 1.3125.
Gold prices rose on Friday as U.S. President Donald Trump criticized the Federal Reserve for increasing interest rates. Comex gold futures for August delivery rose 0.47% to $1,229.70 a troy ounce as of 10:29 AM ET (14:29 GMT). Trump said in an interview on CNBC that he does not approve of how the Fed is approaching monetary policy.
U.K. blue-chip stocks fell Friday, returning to negative territory after U.S. President Donald Trump threatened to place tariffs on $500 billion in Chinese imports, potentially ramping up his administration’s trade dispute with officials running the world’s second-largest economy.
Bitcoin was trading at $7,474.80, inching up 0.60% on the Bitfinex exchange, as of 9:16 AM ET (14:16 GMT), not far from its session high of $7,503.30.
Investing.com – U.S. futures took a sudden dive on Friday, after U.S. President Donald Trump threatened to impose tariffs on all Chinese imports.The S&P 500 futures fell six points or 0.23% to 2,798.75 as of 6:48 AM ET ( 10:48 GMT) while Dow futures decreased 100 points or 0.40% to 24,959.0. Meanwhile tech heavy Nasdaq 100 futures inched up six points or 0.09% to 7,374.50.Trump said in an interview on CNBC that he is ready to impose tariffs on $500 billion worth of Chinese goods to the U.S. if China does not back down on its trade policies. ...
The U.S. dollar took a hit on Friday after President Donald Trump called China and the European Union currency and interest rate manipulators in a tweet. Trump that "while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day," China and the eurozone were robbing the U.S. of its "big competitive edge." The ICE U.S. Dollar Index (DXY) dropped 0.5% to 94.674, extending previous losses. China's yuan was more timid in response.