Daily Market Report
➢ US-China Trade Truce: The US and China agreed to lower tariffs and initiated a 90-day pause
to finalize a broader deal, signalling a de-escalation of trade tensions; President Trump also
highlighted ongoing talks with India, Japan, and South Korea.
➢ Russia-Ukraine Peace Talks: First direct peace talks in three years underway in Istanbul,
though hopes for progress are low amid Putin’s absence; geopolitical tensions remain elevated.
➢ Israel-Gaza Escalation: Israel intensified its strikes on Gaza, killing at least 143 Palestinians
since Thursday dawn, keeping geopolitical risks high and supporting safe-haven flows into Gold
➢ Weak US Economic Data: Soft economic data and weaker US PPI and CPI reaffirmed
expectations for Fed rate cuts, dragging Treasury yields and the US Dollar lower, boosting Gold
prices.
➢ US PPI Drops: US Producer Price Index fell 0.5% in April, first decline since 2023, reinforcing
easing inflation trends after soft CPI data earlier this week.
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