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Market Recap – Phase 1 Deal with China

Monday, October 14, 2019 10:31 AM GMT

President Trump announced that a phase 1 deal was reached with China, at his meeting with Liu He. Within the next 4 weeks, the deal will be put on paper. The tariffs increase that was supposed to start today is postponed, no decision on the December’s tariffs increase has been made.  The upcoming APEC summit in Chile on 16 November, could be the place where this part of the deal will be signed. The US-China trade deal could have a second or a third phase.

Phase 1 includes forex issues and agricultural purchases that would reach the level of $40-50bn annual (China used to import $16bn of US agriculture, before the trade war started). Phase 2 would include technology transfers and IP protection. No decision has been included on Huawei, Hikvision or SenceTime.

Brexit weekend negotiations between the UK and the EU were “constructive” but fell short.

Today, the Queen gives her speech in London and the annual meeting of the IMF and World Bank begins in Washington, DC. World’s finance ministers and Central Bankers will attend.

Macro releases: No significant release is included in today’s economic agenda. It is a bank holiday in Canada and the USA.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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