China’s Vice-Premier Liu: “Cautiously optimistic” about reaching a trade deal
China’s Vice-Premier and Chief trade negotiator Liu He is on the wires now, via Bloomberg, noting that he is "cautiously optimistic" about reaching a phase one trade deal.
He added that he remains confident but confused about the US demands.
Liu also explained “China’s plans for reforming state enterprises, opening up the financial sector, and enforcing intellectual property rights -- issues which are at the core of U.S. demands for change in China’s economic system,” Bloomberg reports.
Despite Liu still expecting the preliminary trade deal signing, markets are not buying into it as of now, with escalating US-China political tensions over the Hong Kong bill and following the latest comments from US President Trump.
The risk sentiment is seen recovering on the above comments, despite Trump expected to sign the bill into law after the US House approved it late Wednesday. USD/JPY is off the lows, but still struggling around 108.50 level while S&P 500 futures are down -0.25% and Treasury yields lose 0.50% across the curve.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
