Following the conclusion of the much-awaited US-China phase one trade deal on Wednesday, China’s Finance Ministry released an official statement on the said trade agreement, highlighting the key details.
“Agrees to buy at least $200 bln in additional US goods and services over 2 years.
Agrees to buy additional $32 bln in US agricultural products over 2 years.
Agrees to buy additional $52.4 bln in US energy products over 2 years.
Agrees to buy additional $77.7 bln in US manufactured goods over 2 years.
Agrees to buy additional $37.9 bln in US services over 2 years.
China, US acknowledge that purchases will be made based on commercial considerations, market prices.
China, US acknowledge that market conditions, particularly for agricultural goods, may dictate timing of purchases in any given year.”
The market mood remains cautiously optimistic, as the above statement does little to better it. The Chinese text released is in line with the monetary values and time-frame mentioned in the US version.
USD/JPY keeps its range trade below 110.00 while the Aussie trades better bid just ahead of the 0.69 handle.
Among the related markets, S&P 500 futures and Treasury yields report small gains while gold prices hold the recent gains above $1550.
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.