US Treasury Sec. Mnuchin: Hopeful China trade talks will make progress

During his appearance at the CNBC interview, the US Treasury Secretary Steve Mnuchin gave several statements concerning the likely US-China trade relations, Iran and also concerning the readiness to issue longer maturity bonds. He previous spoke that the US expects China to buy more agricultural products and the President Donald Trump is prepared to keep tariffs in place and raise them if necessary.

Key quotes

“Hopeful China trade talks will make progress.”

“Huawei is not a pawn in trade talks.”

“If there is proper demand US will issue 50-year bonds.”

“Looking at 50-year bond, if there is proper demand, will consider 100-year bonds.”

“Negative interest rates are bad for banks.”

“French understand they cannot give a line of credit to Iran without US approval.”

“There are no plans currently on easing Iranian sanctions.”

When asked about the International Monetary Fund's (IMF) prediction of 0.8% reduction in global GDP during 2020 due to US-China trade war, Mr. Mnuchin said, "Don't see it in the US as that big an impact."

FX implications

Markets showed little reaction to the news as carrying mixed messages. However, the latest one increasing the odds of a good start to the October trade talks could keep Antipodeans happy for the time being.

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD tension remains elevated ahead of the Fed

EUR/USD is trading around 1.1050, confined to a narrow range ahead of the all-important Fed decision. Chair Powell is set to cut rates by 25bps but signal no further stimulus is on the cards.


GBP/USD extends its falls to 1.2450 amid weak UK inflation, Brexit impasse

GBP/USD has dropped to around 1.2450 as UK headline CPI missed with 1.7% in August. Brexit negotiations remain stuck according to Chief EU negotiator Barnier. The Fed decision is eyed.


USD/JPY holds on to recovery gains above 108.00 ahead of Fed

Not only upbeat trade numbers from Japan but upbeat trade/political headlines also help the USD/JPY pair to remain firm around 108.20 prior to Wednesday’s European session. Focus on FOMC decision.


Gold: Pivots around $1500 mark, awaits FOMC policy update

Gold extended its sideways consolidative price action through the early European session on Wednesday and was seen pivoting around the key $1500 psychological mark, awaiting FOMC policy decision.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The Altcoin market has quickly confirmed Tuesday’s analysis with flashing rises in the last 24 hours. The two eternal aspirants to lead the crypto market – Ethereum and XRP – are rising sharply against Bitcoin and increasing its value rapidly.

Read more