Trump-XI G-20 sideline meeting grants brief reprieve from trade war fears

Joshua Gibson FXStreet

As reported by Reuters, Sunday's late-hour sideline meeting between US President Donald Trump and China's Xi Jinping has seen a delay in tariffs, which will allow markets to adopt a (temporarily) risk-on stance.

Key quotes

"Investors said the agreement, lasting 90 days, between Chinese President Xi Jinping and U.S. President Donald Trump at the G20 summit spelled a reprieve for stocks and could pave the way for a positive bookend to a volatile trading year.

“It sets a pretty positive tone (and) stocks should have a decent rally into December,” said Nathan Thooft, Boston-based global head of asset allocation for Manulife Asset Management.

“It’s not solved by any stretch of the imagination,” said Thooft. But risk assets and cyclical U.S. sectors like materials and industrials should benefit, he said on Sunday."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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