Gold prices fell under the pressure of the dollar and the returns of US Treasury bonds after mixed signals by US President Donald Trump on customs duties, and oil prices rose from their lowest levels in two months driven to cancel Trump a license that was granted to Chevron to work in Venezuela, which may lead to shrinking crude supplies.
gold
Gold decreased in instant transactions 1% to $ 2888 an ounce and US gold futures fell 1.06% to 2899.40 dollars.
The revenues of the standard US Treasury bonds have recovered for a previous 10 -year decrease, which received the background of the background gold.
“It seems that the slight rise in the dollar and the returns of American treasury bonds are pressing a little gold in this session,” said Elia Spavak, from the Testillaev Investment Analysis website, adding that the trend is the rise of gold in general to a large existing.
The markets are awaiting the index of personal consumption expenses, which is the preferred inflation scale of the Federal Reserve, scheduled for Friday, to obtain more indications that confirm the path of the US Central Prices on interest rates.
Silver in instant transactions fell 0.25% at $ 31.77 an ounce, platinum rose 0.32% to 973 dollars, and palladium settled at $ 930.12.
Dollar
The dollar rose above its lowest level in 11 weeks, with an increase in uncertainty due to the mysterious pledges of the American President to impose customs duties on Europe and postpone it again imposing these fees on Canada and Mexico.
The euro fell to 1.04476 dollars after yesterday exceeded its highest level in a month, which he recorded in the last session at $ 1.0529, amid a state of anticipation from the dealers after Trump yesterday launched the idea of imposing “counter -duties” by 25% on cars and other European commodities.
Investors are awaiting reports of any progress of the conservatives in forming a coalition government after their victory in the German elections.
Trump said that customs duties of 25% on imports from Mexico and Canada had come into effect on April 2 instead of the previous date scheduled for March 4.
But a White House official said that the drawing plan on Mexican and Canadian goods is still standing “until this moment” until Trump reviewed measures taken by the two countries to secure the borders and stop the flow of migrants and the Fintanel anesthetic to the United States.
The confusion kept the currencies within its registered scope largely to a large extent, and the Canadian dollar decreased to approach its lowest level in two weeks against the dollar, while Mexican meat is about 20.423 against the dollar after it increased for a short time to the level of 20.286 after Trump’s statements.
Matt Simpson, chief market analyst at City Endex, said the markets are waiting for a bigger catalyst, which was not done by Trump’s “conflicting messages”.
He added, “We know that Trump can say what he wants whenever he wants, but he only executes some of his threats, and it is likely that this is the reason that made currency traders deal with his recent comments quietly.”
Fears regarding global trade helped to pay the dollar index out of its lowest level in more than two months, which he touched on Monday at 106.12. It remained 4% low from the highest level in more than two years, which he recorded in January, as conflicting messages about customs duties fueled concerns about economic growth and inflation in the United States.
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The index, which measures the performance of the American currency against a basket of other major currencies, increased by 0.2% to 106.62 before the second estimate of the American GDP for the last quarter and is scheduled to be released later on Thursday.
The Australian and New Zealand dollars, both of which are specifically vulnerable to the outbreak of a global trade war, came to their lowest level in two weeks.
The dollar rose 0.46% to 149.76 against the yen in the latest transactions, but it remains close to its lowest level against the Japanese currency since early December.
The British pound fell from its highest level in more than two months, which he recorded yesterday at $ 1.2717, and in the latest transactions reached $ 1.2671.
With regard to encrypted currencies, it fell with the formation of 3.16% to 86 thousand and 215 dollars a day after falling to its lowest level since November 11 at 82156.99 dollars.
Oil
Oil prices have increased from their lowest levels in two months after the US President announced the cancellation of a license granted to Chevron to work in Venezuela, which may lead to a shrinking crude supply.
Brent crude futures rose 0.69% to $ 73.03 a barrel, and US West Texas Intermediate crude futures rose 0.73% to $ 69.12 a barrel.
Upon settlement, at the settlement of Wednesday, they reached their lowest level since December 10 due to a sudden increase in US fuel stocks, in an indication of weak demand, as well as hopes in a possible peace agreement between Russia and Ukraine.
Chevron exports about 240 thousand barrels per day of crude from its unit in Venezuela, that is, more than a quarter of the country’s production of the entire oil. Ending the license means that the company will no longer be able to export Venezuelan crude.
“The news associated with Venezuela caused a state of apostasy after the last wave of sale amid the ceasefire talks between Russia and Ukraine,” said the head of the Nissan Squares Unit of the Nissan Squaretes, Hiroyuki Kikoawa.
Market participants are still focusing on Trump’s Russian -Russian peace talks, and the latter said that Ukrainian President Foludmir Zellinski will visit Washington on Friday to sign an agreement on rare ground minerals, while the Ukrainian President said that the success of the agreement will depend on these talks and the continuation of American aid.
The US Energy Information Administration said on Wednesday that crude oil stocks in the United States were unexpectedly fell last week as refining activity increased, while gasoline stocks and distillation products recorded sudden increases.
