Xi Jinping arrived in Washington for a summit with Donald Trump as Treasury Secretary Scott Bessent confirmed an extended US and China trade truce through January 10, while Iran\'s president used his UN address to hold firm on the Strait of Hormuz and stronger US data revived bets on another Fed rate hike.
Ukraine\'s largest drone strike of the war hit a Moscow oil refinery, the US and Denmark signed off on a new Greenland security deal, and Iran\'s president arrived in New York for UN talks, as traders weigh what these geopolitical events could mean for gold, forex, oil and indices today.
Brent crude slipped to around 103 dollars a barrel on Friday 18 September and gold climbed to a one week high near 4,380 dollars, after the Strait of Hormuz stayed closed and Saudi Aramco moved to restart its East West pipeline.
Gold slipped and EUR/USD broke down sharply after last week\'s hot US CPI print, while US500 held well off its August record and GBP/JPY tumbled on rising Bank of Japan rate hike bets.
WTI broke above 88.50 and rallied toward 92 on Iran and Strait of Hormuz supply risk, not the PMI, which barely moved the price
