Phase-One Trade Deal Between the US and China Will be Signed on January 15

The dollar index (#DX) ended this year with a decrease (-0.36%). However, today the US dollar is growing against a basket of major currencies. The news that the phase-one trade deal between the US and China will be signed at the White House on January 15 has supported the US currency. The deal will reduce some US tariffs on Chinese goods. China, in turn, will increase purchases of US agricultural, industrial, and energy products by about $200 billion over the next two years. After signing the phase-one trade deal, Trump will go to China for further negotiations.

Today, during the Asian trading session, weak economic data have been published in China. Thus, Chinese Caixin manufacturing PMI counted to 51.5 in December, while experts forecasted 51.8.

The "black gold" prices are rising. Currently, futures for the WTI crude oil are testing the $61.25 mark per barrel.

Market Indicators

Yesterday, the US stock market was closed due to the New Year celebration.

The 10-year US government bonds yield has risen slightly. At the moment, the indicator is at the level of 1.93-1.94%.

The Economic News Feed for 02.01.2020:
  • - German manufacturing PMI at 10:55 (GMT+2:00);
  • - Manufacturing PMI in the UK at 11:30 (GMT+2:00);
  • - Initial jobless claims in the US at 15:30 (GMT+2:00);
  • - ISM manufacturing PMI at 16:45 (GMT+2:00);
  • - FOMC meeting minutes at 21:00 (GMT+2:00).

by JustForex, 2020.01.02

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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