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#USChinaTradeTalks USA and China ready for trade negotiations in London
Trump suggests imminent decision on Fed chair
USA and China ready for trade negotiations in London
Three top advisors to US President Donald Trump will meet with their Chinese counterparts in London later today to discuss trade disputes between the two economies, a deadlock that has kept global markets in suspense.
"Short-term traders do not want to take aggressive long positions now before the outcome of the US-China negotiations," said Kelvin Wong, a senior market analyst, Asia-Pacific at OANDA.
Although tariffs will not disappear, negotiations may lower the baseline, Wong said, adding that the cost of doing business in the US will remain high, and the increasing US budget deficit could exacerbate inflationary pressures.
On the technical front, spot gold is expected to test support at $3,296 again, a break below that could pave the way for $3,262, according to Reuters technical analyst Wang Tao.
Trump suggests imminent decision on Fed chair
USA and China ready for trade negotiations in London
Three top advisors to US President Donald Trump will meet with their Chinese counterparts in London later today to discuss trade disputes between the two economies, a deadlock that has kept global markets in suspense.
"Short-term traders do not want to take aggressive long positions now before the outcome of the US-China negotiations," said Kelvin Wong, a senior market analyst, Asia-Pacific at OANDA.
Although tariffs will not disappear, negotiations may lower the baseline, Wong said, adding that the cost of doing business in the US will remain high, and the increasing US budget deficit could exacerbate inflationary pressures.
On the technical front, spot gold is expected to test support at $3,296 again, a break below that could pave the way for $3,262, according to Reuters technical analyst Wang Tao.
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