China says Vice Premier Liu Hu spoke with USTR Lighthizer, Treasury Sec. Mnuchin

Ross J Burland FXStreet

China says China and the US had constructive conversation on trade agreement.

Key notes

China says both sides agreed to continue pushing forward implementation of phase 1 trade deal.
Says had constructive conversation on strengthening macroeconomic policy coordination.
Says both sides have agreed to create conditions and environment to continue pushing forward phase 1 trade deal implementation.
Both sides committed to taking steps necessary to ensure success of agreement.

Full statement

Full Statement On Call Between US And China On Phase One Trade Deal pic.twitter.com/bO0LOp691L
— LiveSquawk (@LiveSquawk) August 25, 2020

Market implications

The updates are positive for risk sentiment and AUD/USD has firmed on the news while traders await the Jackson Hole as the main event this week.

Federal Reserve Chairman Jerome Powell’s keynote address should offer traders some further insights on the Fed’s review of monetary policy and the anticipated average inflation targeting.

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.

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