Funda wrap: Trump on NAFTA, Iran and China, dollar hits 91 handle, 10yrs 3%
|On a day where the DXY turns 91 and US 10yrs touch 3%, from a fundamental perspective, today's headlines have been centred around NAFTA, US trade in Asia and Iran with Trump hosting French President Macron.
One issue that the two leaders have been defining in their agenda in Washington was the Iran nuclear deal, where otherwise, Trump had set the 12th of May as the final U.S. deadline Trump to withdraw the U.S. from the 2015 agreement. France, Britain and Germany have urged the president to drop his resistance and even China and Russia are also in favour of keeping the agreement. Moreover, the AP reported that Iran will most likely abandon the nuclear deal if the US opt out.
However, Trump said he and Macron could have an agreement soon on Iran and Macron has proposed a new Iran deal with a focus on four main topics. Trump also said he and Macron have had substantive talks on Iran and they are looking forward to doing something, "but it has to be done strongly".
On trade between France and the US, Trump said, " trade with France is complicated because of the EU, which has trade barriers that are unacceptable", - RTRS.
Asia trade and N.Korea headlines:
- Trump: will have a meeting with North Korean leader very soon, North Korea wants it as soon as possible - RTRS
- Trump: Tsy Sec Mnuchin is going to China to negotiate on trade
- Trump: US has very good chance of a deal with China
NAFTA headlines:
- Trump says NAFTA talks going nicely
- Canada’s Freeland: win-win outcome possible for revised NAFTA
- Canada minister Freeland says NAFTA partners are making good progress on autos, but issue is “fiendishly complex”
- Canada minister Freeland says meeting at USTR to focus on autos rules of origin
- Canada minister Freeland says NAFTA deal “will be done when we’re done
- Mexican NAFTA chief Guajardo: no guarantees that a deal on NAFTA can be reached
- Mexican NAFTA chief Guajardo: European free trade deal is not a point of pressure for us to make a deal on NAFTA - RTRS
European politics and headlines:
- Italy's 5-star leader Di Maio leader says if talks with PD fail, only alternative is a new election
- Italy's 5-star leader Di Maio leader says idea of coalition govt with centre-right has passed
- Italy 5-star leader Di Maio leader says sees the possibility of negotiations for coalition govt with PD
- Italy 5-star leader Di Maio leader says any govt deal would have to be approved by 5-star members
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.