The trade situation is in a critical period, the German turbulent political situation is suspended
On Monday (July 2), the market's concerns about the global trade situation once pushed the US dollar index back to the 95-integer mark, and the dollar hedging property played a role again. Tensions have continued to increase before the US will impose tariffs on US$34 billion on Chinese imports on July 6. Since then, German Chancellor Angela Merkel has declared a compromise with the CSU on immigration issues, which has resolved the market's concerns about the political turmoil in Europe, causing the euro to rebound rapidly against the US dollar in short-term, and the US dollar index has fallen accordingly.
The gold price still continues to be weak in the recent past. In addition to the dollar factor, the industrial metal continues to fall under the risk of trade wars, which also aggravated the decline in gold prices. On the crude oil side, oil prices fell on Monday, as Saudi and Russian supplies increased, and Asian trade growth showed signs of slowing as trade disputes with the United States escalated.
Outlook Tuesday (July 3) Investors should focus on the Reserve Bank of Australia's announcement of interest rate resolutions. In addition, the monthly sales rate of the euro zone in May, the final value of the US durable goods orders in May, and the monthly rate of factory orders in May in the United States are also worthy of investors' attention.