Habemus trade deal – Eyes on US-China talks this weekend [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Not only do we have a new pope this week, but we also have the first deal in Trump’s global trade war, this time between the UK and the US. Trump’s enthusiastic announcement, complete with a lot of CAPITAL LETTERS, helped inflate sentiment, making this US-UK deal feel bigger than it actually is.

Still, the news of the US-UK deal resonated positively across global financial markets and all eyes are on the first in-person meeting between US and Chinese high-level officials in Geneva tomorrow to discuss tariffs. Further de-escalation could boost equities and the US dollar further and pull gold and Swiss franc lower.

In energy, the week ends on a better note than it started. US crude is back at the $60pb level after an early-week plunge to $55 on news that OPEC would accelerate plans to restore output — for reasons that remain unclear.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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