US President Trump and Chinese President Xi held a call, according to Chinese State Media

Newsquawk Staff · 4 Feb 2026, 13:57 UTC

US President Trump and Chinese President Xi held a call, according to Chinese State Media.

What it means

The call between President Trump and President Xi signals an ongoing dialogue between the two economic powerhouses, which may ease tensions around trade and tariffs. Market participants will be watching for any potential commitments or agreements that could impact global trade flows, currencies like the USD and JPY, and overall risk sentiment in equities and commodities. This could shift market dynamics, particularly for risk-sensitive assets and trade-related currencies.

What our latest note said

US Market Open, 6 Nov, 10:48 UTC · what it led with

APAC stocks were pressured; KOSPI slumped 6% following hefty losses in Samsung and SK Hynix.
USD is firmer against all G10 peers awaiting the US NFP report.

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Headlines that moved markets

FX headlines from our feed, and what the market did next.

Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.
EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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