White House advisor, Kellyanne Conway, says that the phase-one of the China trade-deal is being written-up, according to Reuters news.
Markets were hearing that a trade deal was still possible before the end of the year when Conway said that the first phase of the agreement was being put to paper. "Sure," Conway told reporters when asked if a deal was still possible this year to address some trade disputes between the world's two largest economies.
FX and market implications
AUD/USD remains elevated by over 80% and trades near to the day's highs of 0.6822. AUD has been elevated on China's manufacturing PMI moving back into expansion, edging above 50 in November, and offering some hope of a bottom in the sector.
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