China’s progress on US trade deal promises slows in April – Bloomberg
|China’s purchases of the US goods slowed in April, showing signs of dwindling Chinese commitment to the phase one trade deal agreed with the US, Bloomberg reports, analyzing the official Chinese data.
Key takeaways
“China bought $10.4 billion worth of manufactured, agricultural and energy goods in April, taking the total in the 16 months since the trade deal was signed in January 2020 to $147 billion.”
“That progress was the slowest pace this year and reached 38.9% of the two-year target of $378 billion, compared to March’s 36.1%.”
Market reaction
The US-China trade update seemingly adds to the cautious market mood, as AUD/USD trades pressured towards 0.7700. However, the S&P 500 futures, shrug off the news, rising 0.44% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.