Business & Tech News
US and China close to Trade Deal – Announcement Expected Today:
The United States has said that it has made progress in trade talks with China after discussions between the two nations in Switzerland over the weekend. The US Treasury Secretary Scott Bessent described the discussions as “productive and constructive,” while China’s Vice Premier He Lifeng said the talks were “in-depth” and “candid”. The White House called it a “trade deal” but gave no further details. A joint statement with full details is expected today. There were private closed-door discussions all weekend, in the first meeting since US President Donald Trump introduced widespread tariffs against China, and globally earlier this year
Producer Prices Slashed in China as Tariffs Impact Production:
China’s producer prices fell 2.7% yoy in April 2025, below the market consensus of a 2.6% decline and after the 2.5% drop seen in March. This was the 31st consecutive month of producer deflation and the steepest drop seen in six months. The rising external risks from the escalating trade tariff war between the U.S. and China, combined with weak domestic demand, have brought the perfect storm. Cost of production materials fell further (-3.1% vs -2.8% in March), with sharper drops in mining (-9.4% vs -8.3%), raw materials (-3.6% vs -2.4%), and processing (-2.3% vs -2.6%).
Consumer goods prices remained depressed (-1.6% vs -1.5%), with clothing (-0.1% vs -0.3%), durable goods (-3.7% vs -3.4%), and food (-1.4% vs -1.4%), all having an impact. Prices for daily-use goods were little changed (0.6% vs 0.7%). On a monthly comparison basis, producer prices slipped 0.4%, matching the March pace and maintaining t the largest drop in six months. For the first four months of the year, factory-gate prices shrank 2.4%, compared with a 2.3% drop in Q1 of 2025
Copper and Oil Gain – Gold Slides
Copper futures climbed nearly 1% to around $4.65 per pound this morning, building on gains from the previous session as easing US-China trade tensions lifted risk sentiment across global markets, while Brent crude oil futures rose above $64 per barrel on Monday, reaching a nearly two-week high. Gold however, slipped over 1% to around $3,260, hitting a one-week low, as optimism over US-China trade talks dampened demand for safe-haven assets and increased the potential for an uptick in production in China, unperpinning the rise in Oil and Copper Prices
Business, Tech & Market News Shorts:
- The India stock Market experienced a positive surge this mroning, jumping by 1,922 points, or 2.4%, to 81,377 in early trading on Monday, halting losses from the previous two sessions and hitting the highest level in nearly five months, as India and Pakistan reached a truce over the weekend following four days of cross-border firing. The BSE Sensex tracked gains in its Asian peers and U.S. stock futures, following substantial progress in U.S.-China trade talks on Sunday
- Market Data Expected This week – US / China trade negotiations, US inflation rate, retail sales, and speech from Federal Reserve Chair Powell. Global data expected includes inflation data for India and Russia, and the UK, to release Q1 GDP growth. China will release credit data, industrial production, retail sales, and house prices. South African Labour Force Survey and Mining Production stats are due this week
Markets by Numbers
Currencies:
Currency markets indicate the US Dollar has firmed further and is currently trading against the Euro at 1.12162, and against the Pound at 1.32780. The Yen is currently trading lower at 146.10 to the dollar. The rand has steadied despite the stronger dollar and is trading at R18.22.
Commodities:
- Gold futures prices have dropped by 1,5% this morning, and are currently trading at $3274 per ounce.
- Copper prices are trending upwards and are up over 1% and currently at 4.6571.
- Silver futures prices are trending higher this morning and are currently trading at 32.902
- Platinum futures are trading upwards today and at $999.80 currently and look set to breach the $1000 level today, while Palladium prices are also trending higher today and at $981 currently.
- Brent crude oil prices are currently trading 1,2% higher today and at $64.71, with WTI also trending upwards and trading at $61.82.
- Cocoa futures have gained traction this morning and are at $9184 per ton.
- Coffee futures prices are trending slightly higher today and are at $398.53 currently.
Crypto Currencies:
- Bitcoin prices surged over the weekend, above $100000, but are trending slightly softer today, and are currently trading at $103979
- Ether prices also surged over the weekend, and are softer today, and are currently at $2493.63
- $Trumpcoin is trading slightly softer today and is currently trading at $13.92
(All prices quoted at approximately 08H00 – Central African Time)
Other Breaking News in Africa Today
South African Refugees Head for the US
A group of 49 white South Africans departed South Africa yesterday to be resettled in the United States on a private charter plane, after having been offered refugee status by the Trump administration under a new program announced in February. The group, which included families and small children, was due to arrive at Dulles International Airport outside Washington on Monday morning local time, according to Collen Msibi, a spokesperson for South Africa’s transport ministry. They are the first Afrikaners, a minority group in South Africa, to be relocated after U.S. President Donald Trump issued an executive order on Feb. 7 accusing South Africa’s Black-led government of racial discrimination against them and announcing a program to offer them relocation to America.
