Gold price futures rebounded Before revealing the Fed meeting report While keeping an eye on trade negotiations

US Dollar and Forex Market and Forex Trading

Gold price futures rebounded Before revealing the Fed meeting report While keeping an eye on trade negotiations

Gold futures prices rose. Before the release of the minutes of the US Federal Reserve’s monetary policy meeting today, while investors keep an eye on trade negotiations between the US and China.

At 00.07 hrs. Thai time, gold contract COMEX (Commodity Exchange) for December delivery. Rose 6.90 dollars or 0.46% to 1,510.80 dollars / ounce.
Investors keep an eye on the release of the minutes of the September 17-18 Fed meeting today to find signs of a direction in the US interest rate this year.
In addition, investors are keeping an eye on the Fed’s meeting later this month.

The market expects that The Fed will cut interest rates by another 0.25% in the monetary policy meeting on Oct. 29-30 after the release of weak economic data in the US manufacturing and service sectors. Affected by the US-China trade war Including the disclosure of non-agricultural employment numbers that rose below expectations in September Although the unemployment rate touched the lowest level in 50 years
In addition, the disclosure of the PPI index slowed in September. Is another factor that encouraged the Fed to cut interest rates this month.

The latest CME Group FedWatch Tool indicates that investors expect a 85% chance that the Fed will cut interest rates by 0.25% at the monetary policy meeting this month.

The United States and China will negotiate trade at the ministerial level on Oct. 10-11 in Washington, China, Deputy Prime Minister Liu He. Will be the leader of China’s trade negotiations While the US side is led by Mr Steven Manuchin, US Treasury minister And Mr. Robert Light Haiser, US Trade Representative (USTR)

The media reported that Chinese officials do not want to make broad trade agreements, according to President Donald. Trump wants it. Mr Liu He said his proposal to the US would not include the Chinese government’s commitment to reform industrial policy. Or government subsidies
Bloomberg News reported that China is ready to discuss some trade agreements with the United States.

One Chinese official said that China is ready to negotiate trade agreements. As long as the government of President Donald Trump does not increase taxation towards China This includes plans to increase tariffs on imported goods from China, scheduled for this month and December.
In addition, Bloomberg also reports that China will offer to buy US agricultural products in return.

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