Gold Prices Steady Ahead of Trump-Xi Meeting as Inflation and Oil Concerns Persist 
Eurozone Recession Risks Rise as Middle East Conflict Threatens Growth, ECB Official Warns 
Asian Currencies Steady as Trump-Xi Summit, Inflation Concerns Boost Dollar 
OECD Sees Bank of Japan Raising Interest Rates to 2% by 2027 
Japan Inflation Expectations Rise as BOJ Rate Hike Timing Faces Uncertainty 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
Trump and Xi Temple of Heaven Visit Highlights Trade and Diplomacy Goals 
Gold Prices Hold Steady as Investors Monitor U.S.-Iran Tensions and Trump-Xi Summit 
Oil Prices Hold Above $100 as Trump-Xi Meeting and Iran Conflict Keep Markets on Edge 
Fed’s Goolsbee Warns Inflation Remains Elevated, Signals Caution on Rate Cuts 
Yesterday, a report from Bloomberg that suggested that Chinese government officials, who are reviewing the country’s vast forex reserves of more than $3 trillion have made a comment suggesting that China might reevaluate its reserve strategy and trim the country’s purchase of U.S. Treasuries
. The report sent both dollar and treasuries tumbling as a change of policy in China, which is the largest holder of U.S. Treasuries to the tune of 1.2 trillion could have significant ramifications for the global markets.
However, China’s State Administration of Foreign Exchange (SAFE), which is the country’s foreign exchange regulator countered the claim in the report by calling it false or fake news. "The news could quote the wrong source of information, or maybe fake news," the State Administration of Foreign Exchange (SAFE) said in a statement published on its website.
Both Treasuries and the dollar recovered after the Bloomberg report was countered. The dollar index, which is the value of the dollar against a basket of currencies recovered all the yesterday’s loss and is currently trading at 92.5. The U.S. 10-year yield declined more than 5 basis points and is currently trading at 2.54 percent.
