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.
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.
Gold bounced to 4,374.14 this week after testing the support level already flagged for the week ahead. EUR/USD and GBP/USD held steady near 1.16306 and 1.35464 while US500 pulled back toward 7,673.51, all four instruments now sitting ahead of Thursday\'s ECB decision and Friday\'s US CPI.
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
