Markets Wait for China to Confirm Interest in Meeting with Trump at G20 Summit
Arslan Butt • 1 min read
The risk-off sentiment in the markets has reduced slightly after Trump called off tariffs on Mexico. After the weaker NFP figures that released on Friday, the dollar index has strengthened slightly to touch 96.77 at the time of writing.
For now, the markets are waiting cautiously to see if US President Trump will meet his Chinese counterpart Xi Jinping at the G20 summit later this month. However, the uncertainty remains high with Trump stating that he’s ready to go ahead with his next round of tariffs if these upcoming talks do not head towards a trade deal.
What’s causing more uncertainty in the markets is that the Chinese side is yet to confirm its interest in having Xi Jinping meet with Trump at the summit. Meanwhile, the Chinese yuan has improved slightly against the dollar on Tuesday, with USD/CNH trading just under 6.93.