The news of this agreement sent positive shockwaves throughout the market as global economic optimism rose. With both the US and China being two of the world’s largest economies, many other currencies are set to benefit should a deal be coordinated between the two.
Despite the initial optimism, little details have followed the news of the agreed deal and this has weighed on the USD as investors are left in the dark about the terms of the deal.
The news that Donald Trump and his US officials had agreed terms with China over the trade talks was positive and lifted many currencies on the sentiment that the global economy was set to benefit from increased trading. There was also an announcement that the US had decided to lift sanctions on tariffs placed on China, this meant that global manufacturing and trading was likely to improve. For currencies like AUD which is highly dependant on its trade with China, this was particularly good news. However, since this announcement in early December, a lack of details have followed, which has left investors in the dark and unable to view the terms which have been agreed upon.
US President Donald Trump has reassured the world that the deal will be signed in due course. He mentioned on Tuesday that he and the Chinese President Xi Jinping will arrange a ceremony to sign the recently struck deal. Chinese officials have also backed up this statement, insisting that it is in close touch with the US concerning the trade deal signing ceremony.
When the deal does get signed it is likely that more details will follow, provided that the agreement is beneficial to both parties, the global economy will likely pick up, which should be positive news for many currencies around the world, particularly for the USD which is set to benefit from the deal as Trump suggested that the US would only enter negotiations if the deal was right for the US.
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