Markets News

The UK and the US reached a "breakthrough" trade agreement, and gold barely held above the 3,300 mark!

· The UK and US have reached a trade agreement: maintaining a 10% baseline tariff on the UK, expanding market access for both sides, canceling tariffs on UK steel and aluminum, implementing zero tariffs on US agricultural products, and implementing a tiered tariff on UK auto imports. This news is bullish for the pound. · The Bank of England cut interest rates by 25 basis points, with the vote showing division. This news is negative for the pound. · India-Pakistan conflict: Pakistani military has shot down 25 Indian drones, with casualties on the Pakistani side. This news is bullish for crude oil.

TOPONE Markets Analyst

2025-05-09 09:21:23

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