3:00 PM · 13 August 2019

Stocks surge, Gold tumbles on news of Tariff delays

News that the US Treasury will remove some Chinese products from the 10% tariff list based on "health, safety national security and other factos" has caused some large moves in recent trade with risk-assets surging and safe-havens in decline. The US500 (+1.6%) is up over 50 points since the news broke while USDJPY has gained in excess of 100 pips. After earlier reaching its highest level in 6 years Gold has tumbled and now trades back below the $1500 mark; lower by 1.7% on the day

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Daily summary: Oil slumps 8% supporting Wall Street, precious metals and EURUSD

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