Gold Silver Reports – A lull settled over European stocks before key jobs data in the U.S., where announcements of exceptions to import tariffs and surprise talks with North Korea have traders weighing the outlook for a range of assets. The dollar was steady and Treasuries declined along with euro-area bonds.
Kim Jong Un talked about denuclearization with the South Korean Representatives, not just a freeze. Also, no missile testing by North Korea during this period of time. Great progress being made but sanctions will remain until an agreement is reached. Meeting being planned!
— Donald J. Trump (@realDonaldTrump) March 9, 2018
The Stoxx Europe 600 Index nudged higher changed along with U.S. equity-index futures, capping a week in which shares globally were roiled by President Donald Trump rolling out his protectionist trade agenda. Asian stocks rose earlier on news of an agreement for an unprecedented summit between the leaders of the U.S. and North Korea. Gold retreated and bund yields rose, while the yen fell. Crude oil advanced, but still headed for a second week of declines as U.S. shale output climbed.
The announcement that Trump has accepted an invitation to meet North Korean leader Kim Jong Un fed risk-on sentiment in Asia as it helped ease geopolitical concerns tied to the nuclear-armed dictatorship. The summit news overshadowed a warning from China that it will take “strong” measures to counter U.S. trade tariffs. Investors will now look to monthly U.S. employment data for the next signal on the direction of asset markets as the Fed prepares to review interest rates later this month.
Read More : Trump’s Historic Bet on Kim Summit Shatters Decades of Orthodoxy
Elsewhere, Mexico’s peso and Canada’s loonie strengthened on news the two countries will be exempted from the U.S. tariffs, while Norway’s krone climbed after February inflation rose above the central bank’s target. Bitcoin fell below $9,000, heading for its worst weekly decline since Feb. 2. – Neal Bhai Reports