Tensions between U.S. –China may result in Huawei paying the price
The United States government proclaimed today that it will additionally impose harder restrictions on Huawei Technologies. This U.S move seems to be aiming at breaking down the Chinese telecommunications giant passage to commercially available microprocessors.
The Commerce Department’s procedures, originally published by Reuters, will extend limitations stated last May intended at blocking Huawei from purchasing semiconductors without a specific license. That includes chips produced by international firms that have been created with U.S. software or technology.
Yesterday, Mike Pompeo the Secretary of State announced that the Commerce Department attached 38 Huawei affiliates to the U.S. administration’s economic blacklist. That increases the sum of the restricted affiliates to 152 since the first edition of Huawei back in May 2019. Pompeo said in the statement.
Gold continues to rise breaking the $2,000 level
The popular safe-haven Gold continued to expand its profits by moving and surpassing the $2,000 level today while the softer greenback continues to weaken. Now it seems that traders are also concentrating on minutes from the U.S. Federal Reserve’s last policy meeting arranged to release this week, and that seems to provide support for a potential greenback recovery or another upside momentum for Gold.
Spot gold advanced 0.2% to $1,990.13 per ounce while U.S. gold futures went up 0.1% to $1,999.70.
Greenback softer for now
The greenback continued its decline to catch new lows versus a variety of rival currencies today, following a triple hit of weak U.S. economic numbers, retreating yields, and a drop in the safe-haven request that exercised extensive selling influence. It seems now that the bearish trades on the U.S. dollar increased to their largest since May 2011 last week. Against the Swiss franc, the greenback dropped more than 0.1% to a fresh more than five-year low of 0.9049.
Oil declines once more
The popular and much in demand Oil moved lower early today, though it is essentially locked onto late additions after OPEC+ announced the producer grouping is almost fully complying with output reductions in order to sustain prices due to a decrease in the request for fuels because of the coronavirus pandemic.
Brent crude lost 22 cents, at $45.15 a barrel following increasing 1.3% yesterday.
U.S. crude fell 23 cents, at $42.66 a barrel, having increased 2.1% in the previous session.
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