The dollar index is slightly lower due to reduced safe-haven demand from the US-China trade agreement. US CPI figures were weaker than expected, affecting Fed policy. Markets predict a 97% chance of a rate cut at this week’s FOMC meeting. Negotiators reached a tentative trade agreement, easing tensions.

Treasury Secretary Bessent shortlisted candidates for the next Fed Chair. The Euro gained against the dollar with support from the German IFO business climate index. Swaps indicate a minimal chance of an ECB rate cut. USD/JPY is up due to dollar weakness. Gold and silver prices are down due to reduced safe-haven demand.

Precious metals prices are under pressure from ETF outflows and long liquidation. Gold and silver ETF holdings fluctuate. Factors affecting precious metals prices include US-China trade agreement, government shutdown, and Fed policy. President Trump’s influence on the Fed may impact future rate decisions.

Read more at Yahoo Finance: US-China Trade Agreement Reduces Safe-Haven Demand for the Dollar and Precious Metals