Market Commentary: Monday 11th August

US and Russia have agreed to a meeting between Trump and Putin next Friday to discuss a deal to halt the war in Ukraine. Putin is demanding that Ukraine cede its eastern Donbas region and Crimea to Russia; this would require Ukraine to withdraw troops from parts of the Luhansk and Donetsk regions. Zelenskiy said Ukraine will not cede any territory to end the war with Russia. Brent Crude fell 0.5% and is currently trading at $65.93 a barrel. The market seems optimistic about the outcome of the summit—Asian stocks rose, and Bitcoin is hitting record highs at $122,174.

Gold futures in New York declined after a surge on Friday, as the market awaits more clarification from the White House over its tariff policy—100 oz and 1 kg bullion bars would be subject to tariffs.

News releases are light today. Japan’s market is closed for Mountain Day, and all eyes are on US CPI tomorrow.

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