Commenting on the Biden-Xi phone call, Hu Xijin, Editor-in-chief of China’s highly-influential news outlet, Global Times, said that “the choice to talk on the eve of the Spring Festival is indicative of the goodwill and respect that Biden shows to Xi and China.“
Additional quotes
The attitudes of China and the US have become clear.”
“The significance of the phone call today not only lies in that it has further promoted the personal communication between the two leaders, but also provided a sense of ritual to China-US relations and expresses mutual respect.”
“Doing so on this special day for Chinese, I think is of considerable positive significance for realizing the goals of managing differences. “
Market reaction
The risk sentiment has taken the Biden-Xi call in a positive stride, as reflected by the bounce in the AUD/USD pair alongside the S&P 500 futures.
AUD/USD rises 0.20% to 0.7736 while the futures tied to the S&P 500 index gain 0.05%, as of writing.
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