[MARKET UPDATE] Upticks seen (but contained to) US equities following the US President Trump post in which he called the phone call with Chinese President Xi "excellent" and confirmed a trip to China in April; Modest strength seen in CNH
The uptick in US equities, attributed to President Trump's positive characterization of his conversation with President Xi and his planned trip to China, suggests a temporary easing of tensions in US-China relations.
Chinese President Xi says he's willing to work with US President Trump in the Chinese New Year, Xinhua reports
US Treasury Secretary Bessent says Iran has a significant shortage of dollars
[MARKET UPDATE] Upticks seen (but contained to) US equities following the US President Trump post in which he called the phone call with Chinese President Xi "excellent" and confirmed a trip to China in April; Modest strength seen in CNH
Trump on China: "Just completed an excellent telephone conversation with President Xi, of China. It was a long and thorough call, where many important subjects were discussed, including Trade, Military, the April trip that I will be making to China"
UBS (UBSG SW) exec says they expect Q1 expectations to remain on track and personal and corporate banking to remain broadly stable in USD terms
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This development may improve market sentiment, particularly for risk assets, and could provide some lift to the offshore Chinese yuan (CNH). However, the strength is likely to be contained, as broader geopolitical dynamics remain at play.
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