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Barchart
Rich Asplund

Dollar Falls and Gold Prices Climb on US Trade Uncertainty

Donald Trump United States Xi Jinping Gold

The dollar index (DXY00) today is down by -0.40% on uncertainty over US trade policy.  President Trump said on Sunday that he had no current plans to speak to Chinese President Xi Jinping, although Mr. Trump said there could be trade deals with some US trading partners as soon as this week.  The dollar recovered from its worst level today after T-note yields rose when the US Apr ISM services index rose more than expected.

The US Apr ISM services index unexpectedly rose +0.8 to 51.6, stronger than expectations of a decline to 50.2.  Also, the Apr ISM services prices paid sub-index rose +4.2 to a 2-1/4 year high of 65.1, higher than expectations of 61.4.

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