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President Trump on China Trade Deal - May Wait Until After 2020 Election

President Trump on China Trade Deal - May Wait Until After 2020 Election

2019-12-03 11:22:00
Nick Cawley, Strategist
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*** Breaking News – Further Updates Later ***

  • US-China Trade Deal May be Delayed
  • Risk Assets Turn Negative

Q4 USD Forecast and Top Trading Opportunities

US President Trump has warned China that he may wait until after the 2020 US Presidential elections to strike a long-awaited trade deal. Speaking in London, President Trump opined, ‘In some ways I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right’. Trump added that he had ‘no deadline’ for the deal and that a delay may be better. MArkets have been looking forward to phase one of the US-China trade deal to be announced over the last few weeks, boosting risk sentiment.

US-China trade talks have rattled the financial markets for nearly two years, with global growth prospects impacted by the spat between the world’s two largest economies.

Financial markets turned risk-off on the announcement with equities falling, while traditional risk-off assets including gold and the Japanese Yen picked-up a bid.

Gold Price Five Minute Chart (December 3, 2019)

Gold price rallies after President Trump warns on US-China trade deal

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on Sterling – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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