In a highly anticipated meeting during the weekend Donald Trump and Xi Jinping managed to agree on a temporary truce. The leaders of the United States and China decided not to impose any more tariffs on one another for the time being and to renew the trade negotiations that previously fell through. According to reports about the meeting, China has promised to import more agricultural products from the United States, while the US will consider removing the ban on Huawei imposed last month.
The news was received very well on the markets, even if investors are worried that the two leaders did not actually sign any binding agreement. The stock markets are recovering and marking wins all-around, including in the United States, Europe, and Asia.
Risk appetite is once again increasing. The Japanese yen, the Swiss franc, and gold are expected to decrease somewhat in price, while the American dollar is rising. The dollar index reached 96.15 this morning, a 0.5% increase.
