China brings in Commerce Ministry officials to boost trade talks team – SCMP

Ross J Burland FXStreet

Minister Zhong Shan joined the discussion this week in a move observers say shows need to involve more experts as negotiations with the US get tougher. His deputy, Yu Jianhua, is also expected to take more of a role, the South china Morning Post has reported.

The news article explained that China seeks to strengthen its trade negotiation team, including by involving Commerce Minister Zhong Shan, as Beijing and Washington restart talks on a range of thorny issues.

"Zhong joined a phone call with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Tuesday – the first time he had been part of a direct conversation with Washington’s negotiators – in a move that observers said showed Beijing’s need to enlist more experts as the talks get tougher.
It was the first telephone call between top negotiators since Chinese President Xi Jinping and US President Donald Trump agreed to resume stalled talks on the year-long trade war during their summit in Osaka, Japan, on June 29. Even before talks officially restart, China’s imports of American farm products – which the two sides have yet to agree on – are looming as the next contentious issue."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD bounces as soft CPI boosts BoE cut bets

GBP/USD rose 0.42% on Wednesday, recovering toward 1.3600 in a session shaped by softer-than-expected UK inflation data and broad US Dollar weakness. The pair had been consolidating in a tight range between about 1.3450 and 1.3520 for the past few days following the sharp pullback from the late-January high near 1.3870, and Wednesday's move pushed price action back onto the high side of key moving averages.

Gold retains positive bias amid sustained safe-haven demand, softer USD

Gold attracts some buyers for the second straight day as trade jitters and geopolitical tensions ahead of the US-Iran nuclear talks underpin demand for safe-haven assets. Apart from this, a softer US Dollar further supports the bullion, though the underlying bullish sentiment could cap gains. Bulls might also opt to wait for acceptance above the $5,200 mark before positioning for any meaningful appreciating move.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority in the United Kingdom is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.