⚠️ Chinese Vice Premier He Lifeng described the talks with US officials as "significant progress" in stabilizing bilateral trade relations, Bloomberg reports;

📊 China's consumer price index (CPI) fell 0.1% year-on-year in April after falling 0.1% in March;

📰 US President Donald Trump said he would sign an executive order aimed at lowering drug prices;

🇨🇦 Canada's unemployment rate rose to 6.9%, the highest since November last year.

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#xauusd

🥇 The XAU/USD pair is trading at $3,210 per ounce.

⚠️ Following the talks between US and Chinese officials that took place last weekend in Switzerland, Beijing will reduce tariffs from 125% to 10% for 90 days from May 14, while the White House will reduce them from 145% to 30%. US Treasury Secretary Scott Bessent said the parties intend to balance trade and create a mechanism for discussing bilateral trade agreements in the future. In turn, Vice Premier of the State Council He Lifeng called disagreements between countries with different economic systems the norm, emphasizing that contradictions should be resolved through dialogue on an equal basis.

📉 According to analysts, a decrease in demand for safe-haven assets could cause gold to fall below $3,200.

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⚠️ Traders are focusing on US inflation data today. The consumer price index is expected to remain unchanged at 2.4% last month;

📰 US President Donald Trump hinted at further talks with Chinese President Xi Jinping later this week;

🏛 Investors now expect the Federal Reserve to cut interest rates only twice in 2025;

📣 European Central Bank (ECB) governing board member Isabel Schnabel said the regulator should stop cutting rates as global economic uncertainty increases price pressure.

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#wti

🛢 WTI oil is trading at $62,50 per barrel.

🛢 Market participants' optimism remains restrained, as traders expect oil production in OPEC+ countries to grow by 960 thousand barrels per day from April to June. In addition, there is a possibility of signing a "nuclear deal" between Iran and the United States, after which some of the sanctions imposed by Washington on Iranian oil exports will be lifted, facilitating the release of additional volumes to the market.

📊 Today at 20:30 GMT, data on oil reserves in the United States will be published from the American Petroleum Institute (API). Tomorrow, a similar report will be released from the Energy Information Administration (EIA). If reserves grow again, pressure on "black gold" quotes will increase.

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