Oil prices were higher and gold fell after US President Donald Trump said that he would be involved “indirectly” in talks over Tehran’s nuclear program set for Tuesday in Geneva, adding he believed Tehran wanted to make a deal.
A line chart with the title ‘Gold-to-oil ratio’
Mainland Chinese, Hong Kong, Singapore, Taiwan and South Korea markets were closed, keeping activity subdued in financial markets following a break in the US for Presidents’ Day.
With few catalysts on the day, traders looked ahead to other key data points this week, including Fed minutes on Wednesday and US GDP figures on Friday.
Britain, Canada and Japan are also due to publish inflation data this week. These price readings have become even more crucial for markets after the Reserve Bank of Australia earlier this month became the first major central bank, excluding Japan’s special case, to raise rates after the post-COVID easing cycle.
–Reuters–
