USTR: US, Japan, EU to meet on China ahead of Wednesday trade deal signing - Reuters

Dhwani Mehta FXStreet

Citing a US Trade Representative (USTR) Spokesman on Tuesday, Reuters reported last hour that top trade officials from the US, Japan and the European Union (EU) will meet in Washington on Tuesday to address non-market-oriented trade policies and subsidies by China, a day ahead of the US-China preliminary trade deal sealing in.

Additional Details:

“US Trade Representative Robert Lighthizer met Monday with his Japanese counterpart, Hiroshi Kajiyama, and will meet for bilateral talks with EU Trade Commissioner Phil Hogan on Thursday, a USTR spokesman said.

The meetings bookend Wednesday’s signing of a Phase I trade agreement between the United States and China that is aimed at defusing an 18-month war of tit-for-tat tariffs that have roiled financial markets and dragged down global growth.

The EU and Japan share many of the United States’ concerns about those issues and China’s behavior in global markets, but Tokyo and Brussels have been put on the defensive by tariffs threatened and imposed by President Donald Trump.”

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.

GBP/USD declines to near 1.3350 as US launches strikes on Iran

The GBP/USD pair loses traction to near 1.3355 during the Asian trading hours on Wednesday. The US Dollar edges higher against the British Pound amid renewed geopolitical tensions after the US renewed strikes on Iran. The Federal Reserve’s June meeting minutes will be published later on Wednesday.

EUR/USD struggles above 1.1400 as fresh US strikes on Iran support USD ahead of FOMC Minutes

The EUR/USD pair defends the 1.1400 mark during the Asian session on Wednesday, though it struggles to attract any meaningful buyers on the back of renewed US-Iran hostilities. Traders also seem hesitant and opt to wait for FOMC Minutes for more cues about the Federal Reserve's policy path before placing fresh directional bets.

Gold edges higher amid subdued USD demand; hawkish Fed and US-Iran tensions to cap gains

Gold edges higher during the Asian session on Wednesday and, for now, seems to have snapped a two-day losing streak after falling to sub-$4,100 levels, or the weekly trough touched the previous day. The US Dollar struggles to build on a modest uptick as bulls turn cautious ahead of the release of the June FOMC meeting Minutes.

Bitcoin holds above $60K after weakest first-half performance in years

Bitcoin has shown strength over the past week, rising above the $63,000 level, but the rally remains fragile until exchange-traded fund inflows expand in the upcoming trading sessions, according to Wintermute.

Tehran markets ship attacks as customer service; Washington responds with ordnance

Iran's Foreign Ministry spent Tuesday insisting it is diligently fulfilling its Strait of Hormuz commitments under the memorandum signed at Versailles, hours after projectiles struck a Qatari liquefied natural gas carrier and a Saudi tanker inside the waterway it claims to be safeguarding.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.