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Trump – Xi meeting: US agreed to no new tariffs on China goods

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Positive news via China state media (Xinhua, CCTV) on a trade war truce:

  • The US will not levy new tariffs on Chinese goods
  • US and China to restart trade talks
  • US and China trade teams will have talks on detailed issues

US President Trump:

  • We had an excellent meeting with Xi
  • As good as it was going to be
  • thinks “we are back on track” with China

Should be a positive for risk come Monday morning. But do bear in mind this is not a trade deal. Talks to restart. 

Still to come this weekend, scheduled for 30 June 2019 at 0100GMT – China official PMIs:

Manufacturing 

  • expected 49.5, prior 49.4

Non-manufacturing 

  • expected 54.1, prior 54.3

ForexLive

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