Trump versus China againJuly 31, 2019
President Trump accuses China for not delivering its promises
On Tuesday in a set of tweets the president of the United States, Donald Trump accused China of not following its promises days before the two countries are set to reopen postponed discussions in hope to achieve the anticipated trade deal. Trump claimed that China is not delivering its promises by not purchasing more U.S. agricultural goods and possibly intentionally delaying the discussions because it is awaiting the results of the next presidential election in 2020. Trump wrote “China is doing very badly, the worst year in 27 years – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through”.
Apple’s earning positive
On Tuesday the famous iPhone creator Apple announced earnings for its June quarter. The earnings outcome were more than analysts’ expectations, and the company’s profits increased following two straight declining quarters. The stock actually increased by more than 4% in the after-hours trading session while the company also announced a cash dividend of $0.77 per share.
Apple’s guidance was obvious and knocked down analyst expectations, hinting that interest for Apple products is secured for now. Apple CEO Tim Cook told CNBC that “We’re very excited to report a return to growth for the quarter, and it’s a record revenue for Q3 as well, best we’ve ever had.”
Gold fell on Wednesday
On Wednesday Gold fell while the greenback continued to be strong. That was while traders anticipated the outcome of the Federal Reserve’s conference later today. The FED is forecasted to lower interest rates. U.S. Gold futures went down 0.1% to $1,440.49 an ounce while Spot gold fell 0.2% to $1,427.90 per ounce. Brian Lan, the managing director at dealer Gold Silver said “Most of the people are staying on the sidelines due to the Fed meeting. If the Fed does reduce rates, gold may come down a little, as a 25 basis point cut is already priced-in”.
Oil on the rise for 5 days now
On Wednesday, Oil prices registered the fifth day of increases supported by a surprise decline in U.S. stockpiles. Another factor was that traders anticipated a probable decrease in interest rates by the FED – not witnessed in more than 10 years. U.S. West Texas Intermediate crude increased 41 cents, to $58.45 a barrel. Brent crude went up 44 cents, to $65.15 a barrel.