On Wednesday, the U.S. dollar (USD) retreated as investors exercised caution ahead of a key U.S. employment report and ongoing developments in tariff negotiations led by former President Donald Trump. The weakening of the greenback reflects a tense market atmosphere driven by geopolitical uncertainty and protectionist economic policies.
On Tuesday, major U.S. stock indexes closed in positive territory, driven by a surge in semiconductor stocks, particularly Nvidia $NVDA , as market participants anticipated potential clarity on U.S. trade policies. The backdrop for the rally included renewed expectations of dialogue between the United States and key trading partners regarding prospective tariff measures.
Gold prices retreated on Tuesday, falling nearly 1% from a four-week high as the U.S. dollar (USD) gained strength and traders exercised caution ahead of a potential phone call between former U.S. President Donald Trump and Chinese President Xi Jinping. The renewed geopolitical focus, alongside currency dynamics, pressured the precious metal, traditionally viewed as a safe-haven asset during periods of uncertainty.
Alibaba Group Chairman Joe Tsai recently shared that following a meeting with President Xi Jinping, Chinese entrepreneurs have become noticeably more confident. This renewed optimism is already reflected in the company’s decision to resume hiring, signaling a shift toward increased business activity within China.
This week, global attention was drawn to a meeting between Chinese President Xi Jinping and representatives of the private sector. During the event, Huawei's founder, Ren Zhengfei, stated that concerns over China’s lack of domestic semiconductors and operating systems are gradually diminishing. His remarks underscore China's ongoing pivot toward technological self-sufficiency despite external pressures and sanctions.
