Futures up, Gold and Franc down on trade optimism [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The weekend brought good news. The negotiations between American and Chinese officials this weekend in Geneva went well – apparently – as US Treasury Secretary Bessent said that ‘substantial progress was made.’ The foretaste of de-escalation is giving a boost to risk appetite this morning –although pharma stocks are under pressure on Trump’s plans to order a cut in US prescription drug costs – he doesn’t want Americans to pay more than people in countries with the lowest price.

In FX, the US dollar is slightly softer this morning – on the back of trade optimism – while the Swiss franc and gold retreat.

This week, investors will focus on the trade developments, Chinese Big Tech and Walmart results and US CPI update.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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