WH Trade Adviser Navarro now denying US-China trade deal is over – WSJ

Dhwani Mehta FXStreet

Markets witnessed a dramatic turnaround in the risk sentiment after White House Adviser Peter Navarro retracted on his earlier comments that the US-China trade deal is over, as he spoke in an interview with the Wall Street Journal (WSJ) in the last minutes.

“I was simply speaking to the lack of trust we now have of the Chinese Communist Party after they lied about the origins of the China virus and foisted a pandemic upon the world,” Navarro clarifies further.

He said, the comment was not about phase 1 deal, which remains in place.

Market reaction

Risk sentiment bounced sharply after Navarro retracted on his earlier comments, with most majors reverting to their previous levels while S&P 500 futures trimmed losses.

AUD/USD regained 0.6900 while USD/JPY headed back to 107.00.

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.

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