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President Trump has boosted US stock markets after praising the progress of ongoing US-China trade talks.
- Stock markets, especially in the USA, have received a boost from President Trump's praise of the progress of US-China trade talks. Trump hailed a forthcoming "total reset" in trade relations between the two nations which have become extremely important mutual trading partners. Trump has claimed that "substantial progress" has been made in the trade talks, and this has been enough to send US stock markets strongly higher in off-hours trading. The NASDAQ 100 Index has made a bullish breakout beyond key resistance and its 200-day moving average.
- Bitcoin is close to testing its record high made a few months ago after making a bullish breakout beyond its former key resistance level at $95,206, which is a bullish sign. The price has continued to make new 2-month highs above $104,000.
- The precious metal Gold has continued to decline following its bearish double top pattern near the highs around $3,430, which points towards a strong possibility of further decline.
- Since today's Tokyo session open, the Australian Dollar has been the strongest major currency and the Japanese Yen the weakest one in the Forex market, suggesting momentum towards risk-on sentiment, putting the AUD/JPY currency cross into focus.