Markets Today: The dollar is dying

Positive sentiment in the US on Friday and in the APAC session yesterday has carried through into overnight markets notwithstanding a downside surprise in the US non-manufacturing ISM report.

Overview

  • Optimism that the talks underway in Beijing will bear fruit in terms of progress toward a Sino-US trade deal are the overriding influence.
  • Trade talks in between Beijing resumed yesterday and included an unscheduled appearance by China’s Vice president Liu He, an act that further boosted sentiment towards a deal.  Commerce Secretary Wilbur Ross later expressed optimism to CNBC that the U.S. can reach a “reasonable” trade deal with China. A pact would include increased Chinese purchases of American soybeans and LNG, plus “structural reforms” on IP rights and market access, Ross said.  Also helping sentiment are reports of Trump aides telling him that in order to stabilise markets, he needed to do a trade deal with China and leave Fed chair Powell alone. Read More @ https://business.nab.com.au/markets-today-the-dollar-is-dying-32766/

WHAT IS THE USD SAYING?

U.S., China can reach trade deal ‘we can live with’: U.S. Commerce secretary

U.S. Commerce Secretary Wilbur Ross predicted on Monday that Beijing and Washington could reach a trade deal that “we can live with” as dozens of officials from the world’s two largest economies resumed talks in a bid to end their trade dispute.  Ross told CNBC the immediate trade issues would be easiest to tackle while enforcement issues and structural reforms, such as intellectual property rights and market access, would be more challenging to resolve. “I think there’s a very good chance that we will get a reasonable settlement that China can live with, that we can live with and that addresses all of the key issues,” Ross said in an interview with CNBC. Read More @ https://www.reuters.com/article/us-usa-trade-china-talks/u-s-china-can-reach-trade-deal-we-can-live-with-u-s-commerce-secretary-idUSKCN1P10IL?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

CRITICAL NEWS TODAY FOR CURRENCIES.

  • 9.30pm – Canada trade balance – Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers  – be cautious as the market can go any directions.

Members be ready for more webinar from 18th January onwards.

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