President Trump, in stark contrast to the Chinese's recent statement about how the US's goodwill has been damaged by the US Commerce Department's blacklistings, has been crossing the wires and was reported to have said that there is a really good chance of US and China making a trade deal.
More from Trump:
- Thinks China wants to make a trade deal more than he does.
- Would love to make a trade deal with China if it is the right deal.
- Any trade deal with China has to be better than 50/50 for the US.
- China has been taking advantage of the US for a long time; He told President Xi that.
FX implications:
The markets are ignoring these comments, as eyes glaze over considering it is very typical of Trump to be so bullish in the face of adversity. The comments come after the close on Wall Street, so it is unclear what his comments were intended for, perhaps in response to the Chinese pouring cold water over any hopes of a trade deal breakthrough this week and as an indirect invitation to China to come forward with a less rigid stance on the various sticking points in the negotiations to date. However, the markets are not buying it and prefer to walk cautiously into the event which will likely support the Yen with within its recent ranges across the board for the remainder of this week.
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