Ethereum soars 50% in 7 days
Most cryptocurrencies rallied on Tuesday as the risk appetite improved following the US-China trade deal.
Earlier data showed US consumer prices rose 2.3% y/y in April, down from 2.4% in March, and below estimates of 2.4%.
US core prices, excluding food and energy, rose 2.8% in April, same as March and matching estimates.
US consumer prices rose 0.2% m/m in April, below estimates of a 0.3% rise, and compared to March's 0.1% contraction.
The US and China announced a massive cut in reciprocal tariffs for 90 days amid efforts to contain trade tensions and reach a resolution.
According to the temporary agreement, the US will cut tariffs from 145% to 30%, including a 20% tariff related to fentanyl, while China will cut tariffs from 125% to 10%.
In addition, Trump also reduced tariffs on small Chinese packages, worth less than $800, from 120% to 54%.
Ethereum
Ethereum spiked 8.4% as of 21:18 GMT on Coinmarketcap to $2663.5, while rising 49.5% overall in the past seven days.
Oil expands gains, US crude surges 3%
Oil prices rose on Tuesday and expanded the gains as trade tensions between the US and China cooled, while US inflation slowed down unexpectedly in April.
Oil prices surged 4% yesterday as the US and China agreed to pause most tariffs for 90 days.
Earlier data showed US consumer prices rose 2.3% y/y in April, down from 2.4% in March, and below estimates of 2.4%.
On trading, Brent crude futures due in July rose 2.57%, or $1.67 to $66.63 a barrel.
US crude futures due in June rose 2.78%, or $1.72 to $63.67 a barrel.
US dollar falls after inflation data
The US dollar fell against most major rivals on Tuesday as trade tensions cooled and after important inflation data.
Earlier data showed US consumer prices rose 2.3% y/y in April, down from 2.4% in March, and below estimates of 2.4%.
US core prices, excluding food and energy, rose 2.8% in April, same as March and matching estimates.
US consumer prices rose 0.2% m/m in April, below estimates of a 0.3% rise, and compared to March's 0.1% contraction.
The US and China announced a massive cut in reciprocal tariffs for 90 days amid efforts to contain trade tensions and reach a resolution.
According to the temporary agreement, the US will cut tariffs from 145% to 30%, including a 20% tariff related to fentanyl, while China will cut tariffs from 125% to 10%.
In addition, Trump also reduced tariffs on small Chinese packages, worth less than $800, from 120% to 54%.
Otherwise, the dollar index fell 0.8% as of 20:23 GMT to 101, with a session-high at 101.7, and a low at 100.9.
Aussie
The Australian dollar rose 1.6% as of 21:11 GMT against its US counterpart to $0.6475.
Loonie
The Canadian dollar rose 0.3% against the US dollar as of 21:11 GMT to $0.7175.
Gold climbs and attempts to recoup recent losses
Gold prices rose on Tuesday as the dollar index fell against most major rivals, with the precious metal attempting to recover some of yesterday’s 3.5% losses.
Earlier data showed US consumer prices rose 2.3% y/y in April, down from 2.4% in March, and below estimates of 2.4%.
US core prices, excluding food and energy, rose 2.8% in April, same as March and matching estimates.
US consumer prices rose 0.2% m/m in April, below estimates of a 0.3% rise, and compared to March's 0.1% contraction.
The US and China announced a massive cut in reciprocal tariffs for 90 days amid efforts to contain trade tensions and reach a resolution.
According to the temporary agreement, the US will cut tariffs from 145% to 30%, including a 20% tariff related to fentanyl, while China will cut tariffs from 125% to 10%.
In addition, Trump also reduced tariffs on small Chinese packages, worth less than $800, from 120% to 54%.
Otherwise, the dollar index fell 0.8% as of 20:23 GMT to 101, with a session-high at 101.7, and a low at 100.9.
On trading, gold spot prices rose 0.8% as of 20:25 GMT to $3254.6 an ounce.