Global Markets Brace for U.S.-China Trade Talks amidst Tariff Tensions
Amid choppy Wall Street trading, global markets were buoyed by optimism around upcoming U.S.-China trade negotiations following a U.S.-UK trade deal. Currency markets reacted with the dollar losing ground and investors showed interest in cryptocurrencies. Oil and gold prices rose as traders awaited the pivotal Geneva meeting.
The global financial markets remained jittery on Friday as investors digested news of a trade deal between the U.S. and UK, heightening anticipation for upcoming negotiations with China. The MSCI global equities index made marginal gains while U.S. stock indexes hovered near flat amid fluctuating trading activity on Wall Street.
Currency markets saw the dollar retreat slightly, though it eyed a weekly gain against major peers, including the euro and yen, in response to optimistic sentiment surrounding the U.S.-China talks. Meanwhile, bitcoin continued its streak of gains, hitting new highs for the year, and oil prices rose on investor hopes tied to trade discussions.
Market participants expressed measured optimism ahead of a weekend meeting in Geneva between key U.S. and Chinese officials, which could signal a breakthrough in easing ongoing trade tensions. However, uncertainty looms, with financial experts urging caution over the potential outcomes and their impacts on global economic dynamics.
(With inputs from agencies.)
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