We have a deal!

The US and the UK agreed a new trade deal yesterday, making the UK the first country to reach a deal with the US since US President Trump introduced new tariffs a month ago. Although this boosted global market sentiment, with US and European markets closing higher, UK stocks underperformed. The deal also weighed on safe-haven assets like US Treasuries and gold. Meanwhile, the Bank of England’s rate cut by 25 basis points was seen as a supportive move for the UK economy. Asia-Pacific markets were largely higher overnight, buoyed by China's stronger-than-expected export growth in April and a narrowing import decline, which brings some relief to Beijing ahead of tariff talks with the US this weekend. Joining us to discuss the latest developments in foreign exchange and metals markets is Tim Gagie, Head of FX and Precious Metals Solutions in Geneva.

00:00 Introduction: Helen Freer, Investment Writing

00:27 Markets wrap-up: Lucija Caculovic, Investment Writing

07:26 FX and metals: Tim Gagie, Head of FX & PM Solutions Geneva

11:45 Closing remarks: Helen Freer, Investment Writing

Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.