Breaking News‼️

The Roman Catholic cardinals gathered at the Vatican in Rome have chosen a new pope to lead the church’s 1.4 million faithful, announcing their decision on Thursday with a swirl of white smoke from a smokestack above the Sistine Chapel.

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🇺🇸🇬🇧 US–UK Trade Deal – May 2025

🔑 Summary:
• The UK secured the first trade agreement with the U.S. under Trump’s “Liberation Day” tariff regime.
• The deal preserves a baseline 10% tariff on most goods but removes the additional 25% tariffs on UK steel, aluminium, and cars.
• In return, the UK agreed to increased access for U.S. ethanol, beef, and industrial goods.
• No resolution on UK’s digital services tax or broader financial/tech sector issues.
• Experts say the agreement is limited in scope, still leaves UK exporters facing higher average tariffs than before Trump took office (~11% vs. 1%).


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What it really means?

As I prognosticated, the UK is in a significantly worse position than before. Trump bully tactic paid off well where He attacked with a ridiculously high offer 25% levy and then agreed 10% for UK exporters. Just for comparison, UK exporters on average faced 1.2% tariff to most of their US exports!!!!

Keith Starmer sacrificed the Agricultural sector and even thanked Donal Trump for the extra 10% tariffs. What a clown... 🤡
Letting in cheap U.S. ethanol is like importing finished bread while your wheat goes unsold — the value chain is bypassed, and UK arable farmers are the ones squeezed.

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🟥 BREAKING | US-CHINA TRADE WAR 🇺🇸🇨🇳:

Treasury secretary Scott Bessent said yesterday that “substantial progress” was made over two days of discussions with Chinese officials, in the first sign that Washington and Beijing might start to ratchet down economic tensions.

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MARKET REACTION 📈 (How to trade the above news?)

US futures for the S&P 500 and Nasdaq rose 1.3 per cent and 1.7 per cent, respectively. Chinese equities were also up, with Hong Kong’s benchmark Hang Seng index rising 0.8 per cent in early trading on Monday, while mainland China’s CSI 300 climbed 0.6 per cent.

The dollar strengthened 0.3 per cent against a basket of its peers and the renminbi edged up 0.1 per cent to Rmb7.23 per dollar. Gold fell 1.8 per cent to $3,265 per troy ounce.

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:goldbar: Gold May 13, 2025

Key Points:
- Reaction: Gold is fading as risk appetite returns, safe-haven flows unwind, and the dollar firms.
- Key Support: $3,278 – a break could target $3,250.
- Fed Impact: Powell’s “wait-and-see” stance reduced the immediacy of rate cuts, dulling gold’s short-term appeal.
- Trade Narrative: Progress with China has dented haven demand further.
- The focus today is on CPI. ‼️

Markets opened the day on a cautiously optimistic footing following “substantial progress” in U.S.–China trade talks and a stable but non-committal Federal Reserve. Equities are extending gains, Treasury yields are firm, and gold is under mild pressure. The dollar index is stabilizing, and sterling is eyeing further upside if U.S. inflation comes in cooler than expected.

https://www.tradingview.com/x/5177b4tz/

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