China says Vice Premier Liu Hu spoke with USTR Lighthizer, Treasury Sec. Mnuchin
|China says China and the US had constructive conversation on trade agreement.
Key notes
- China says both sides agreed to continue pushing forward implementation of phase 1 trade deal.
- Says had constructive conversation on strengthening macroeconomic policy coordination.
- Says both sides have agreed to create conditions and environment to continue pushing forward phase 1 trade deal implementation.
- Both sides committed to taking steps necessary to ensure success of agreement.
Full statement
Full Statement On Call Between US And China On Phase One Trade Deal pic.twitter.com/bO0LOp691L
— LiveSquawk (@LiveSquawk) August 25, 2020
Full Statement On Call Between US And China On Phase One Trade Deal pic.twitter.com/bO0LOp691L
— LiveSquawk (@LiveSquawk) August 25, 2020
Market implications
The updates are positive for risk sentiment and AUD/USD has firmed on the news while traders await the Jackson Hole as the main event this week.
Federal Reserve Chairman Jerome Powell’s keynote address should offer traders some further insights on the Fed’s review of monetary policy and the anticipated average inflation targeting.
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