LAST WEEK – KEY TAkeAways
Trade: Trump meets Xi at G20 summit
- Equity markets rallied when they opened this morning after US President Donald Trump and his Chinese counterpart Xi Jinping agreed to resume trade talks at their meeting at the G20 summit on Saturday;
- President Trump pledged not to impose any further tariffs on Chinese goods during negotiations and said US companies could continue to do business with Chinese tech group Huawei.
- Omnis view: Tensions appear to have eased, which the markets will welcome. However, there were no concrete outcomes from the meeting, and President Trump later tweeted that he was ‘in no rush’ to conclude a trade deal.
FTSE 100 reacts to resumption of trade talks (source: ft.com)
LOOKING AHEAD - TALKING POINTS
- Monday- EU unemployment rate for May;
- Wednesday- US imports, exports and balance of trade in May;
- Friday- US non-farm payrolls and earnings in June.
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This update reflects Omnis’ view at the time of writing and is subject to change.
The document is for informational purposes only and is not investment advice. We recommend you discuss any investment decisions with your Openwork financial adviser. Omnis is unable to provide investment advice. Every effort is made to ensure the accuracy of the information but no assurance or warranties are given.