Trump says he might wait till after the election for China trade deal
In an outlandish announcement, the US President Donald Trump said he may wait till after the US elections to sort a trade deal with China.
Now, who knows if this is gamesmanship ahead of this week's talks with China or if the President is really serious but it has had big implications in the markets. The stock indices have sold off and as suggested in this mornings podcast we have seen a rally in gold.
USD/JPY has also felt the impact of the US leaders comments as it fell from about 109.05 to 108.05 in a matter of minutes. This weeks news has been dominated by the trade war saga as just yesterday the President said if a deal was not done by December 15th he would add more tariffs to Chinese goods. If that was not enough Trump also slapped tariffs to French imports and base metals from South America.