Commodities

Palladium falls with trade war in focus

2019-05-21 15:32:27 GMT (Economies.com)

Palladium prices fell during today's trading as markets continued to focus on the US-China trade war as well as the dollar's rise against most major currencies.

 

The US-China trade dispute intensified after Google announced yesterday it had suspended some business with Huawei because of its national security risks, in compliance with Donald Trump administration orders.

 

Google aims to squeeze Huawei, as the search engine giant decided to stop providing Android OS to Huawei's phones and tablets.

 

Many news agencies quoted sources saying that many US companies in the technology sector also targeted the ban on Huawei.

 

The dollar index (against a number of major currencies) rose by 0.2% to 98.1 points at 14:30 GMT, with a high of 98.1 points and a low of 97.9 points.

 

In terms of trading, by 14:28 GMT, palladium futures (June delivery) fell by 0.5% to $1324.2 per ounce, with a high of $1332.9 and a low of $1316.7.

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