Latest news with #USChinaTradeTalks
Sky News
a day ago
- Business
- Sky News
Diplomatic win for UK hosting US-China trade talks
Sky News understands that the Trump administration approached the UK government to ask if it would host round two of the US-China trade talks. This is a useful 'diplo-win' for the UK. The first round was held in Geneva last month. News of that happening came as a surprise. The Chinese and the Americans were in the midst of a Trump-instigated trade war. President Trump was en route to Saudi Arabia and suddenly we got word of talks in Switzerland. They went surprisingly well. US treasury secretary Scott Bessent and his Chinese counterpart He Lifeng, met face-to-face and agreed to suspend most tariffs for 90 days. But two weeks later, the Trump administration accused Beijing of breaking the agreements reached in Geneva. Beijing threw the blame back at Washington. On Wednesday, Donald Trump and Xi Jinping spoke by phone. The Chinese claimed this call was at the Americans' request. Either way, the consequence was that the talks were back on track. "I just concluded a very good phone call with President Xi of China, discussing some of the intricacies of our recently made, and agreed to, trade deal," President Trump said this week. From that call came the impetus for a second round of talks. A venue was needed. In stepped the UK at short notice. Beyond being geographically convenient, UK government sources suggest that Britain is geopolitically in the right place right now to act as this bridge and facilitator. The UK-China relationship is in the process of a "reset". Other locations, like Brussels or other EU capitals, would have been less workable. Crucially too, for the UK, this is also potentially advantageous as it seeks to get its own UK-US trade agreement, to eliminate or massively reduce tariffs, over the line. 5:08 Talks on reaching the "implementation phase" have been near-continuous since the announcement last month, but having the American principals in London is a plus. Sideline talks are possible, but even the presence of the US team in the UK is helpful. For all the chaos that President Trump is causing with his tariffs, he has instigated face-to-face conversations as he seeks resets. Key players are sitting down around tables - yes, to untangle the trade knots which Trump tied, but this whole episode has pulled foes together around the same table; it has forced relationships and maybe mutual understanding. That's useful. And for this next round, between superpowers, the UK is the host. Also useful.
Zawya
12-05-2025
- Business
- Zawya
US-China trade talks lift Qatar's QSE 12 points; Islamic equities outperform
The US-China trade talks instilled confidence among investors as the Qatar Stock Exchange (QSE) on Sunday opened the week with more than 12 points gains in index; even as capitalisation was rather seen flat. The local retail investors turned bullish as the 20-stock Qatar Index gained 0.12% to 10,532.25 points, although it touched an intraday high of 10,589 points. The insurance, real estate, industrials and consumer goods sectors witnessed higher than average demand in the main market, whose year-to-date losses truncated further to 0.37%. About 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation however remained rather flat at QR618.62bn amidst buying in microcap segments. The foreign individuals were increasingly net buyers in the main market, which saw as many as 1,918 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across six deals. The Gulf individual investors were also increasingly net buyers in the main bourse, whose trade turnover and volumes were on the decline. The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills. The foreign funds continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds. The Total Return Index rose 0.12%, the All Islamic Index by 0.35% and the All Share Index by 0.1% in the main market. The insurance sector index gained 0.56%, realty (0.38%), industrials (0.37%), consumer goods and services (0.31%) and banks and financial services (0.06%); while telecom and transport declined 0.7% and 0.22% respectively. Major movers in the main bourse included Qatar General Insurance and Reinsurance, Qatar Oman Investment, Lesha Bank, Al Faleh Educational Holding, Baladna, Salam International Investment, Al Mahhar Holding, Vodafone Qatar and Milaha. In the venture market, Techno Q saw its shares appreciate in value. Nevertheless, Ooredoo, Widam Food, Nakilat, Al Meera and AlRayan Bank were among the shakers in the main market. The Qatari retail investors turned net buyers to the tune of QR18.23mn compared with net sellers of QR3.38mn last Thursday. The foreign individual investors' net buying increased noticeably to QR3.98mn against QR0.86mn the previous trading day. The Gulf retail investors were net buyers to the extent of QR1.38mn compared with net sellers of QR0.44mn on May 8. The domestic institutions' net profit booking eased marginally to QR37.12mn against QR38.79mn last Thursday. However, the foreign institutions' net buying weakened substantially to QR6.76mn compared to QR24.26mn the previous trading day. The Arab individual investors' net buying weakened noticeably to QR4.57mn against QR10.3mn on May 8. The Gulf institutions' net buying decreased perceptibly to QR2.21mn compared to QR7.19mn last Thursday. The Arab institutions had no major net exposure for the fourth straight session. The main market witnessed a 3% fall in trade volumes to 191.06mn shares, 23% in value to QR331.62mn and 49% in deals to 10,502. In the venture market, a total of 31,828 equities valued at QR0.01mn change hands across 15 transactions. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Santhosh V. Perumal
Globe and Mail
09-05-2025
- Business
- Globe and Mail
Dollar Edges Lowers Before US-China Trade Talks
The dollar index (DXY00) Friday fell from a 4-week high and finished down by -0.29%. Long liquidation pressures weighed on the dollar ahead of this weekend's US-China trade talks in Switzerland. Losses in the dollar accelerated Friday after New York Fed President Williams said he expects economic growth in the US this year to be "considerably slower" than in 2024, which was a dovish statement for Fed policy. Fed Governor Kugler said the Fed should hold interest rates steady for now, citing a stable US economy and uncertainty around President Trump's tariffs policy. New York Fed President Williams said he expects economic growth in the US this year to be "considerably slower" than in 2024, and he anticipates higher inflation and unemployment. The markets are discounting the chances at 17% for a -25 bp rate cut after the June 17-18 FOMC meeting. EUR/USD (^EURUSD) Friday recovered from a 4-week low and rose by +0.24%. Friday's weaker dollar sparked some short covering in the euro. Also, Friday's jump in the 10-year German bund yield to a 4-week high strengthened the euro's interest rate differentials. Gains in the euro were limited by Friday's dovish comments from ECB Governing Council members Simkus and Rehn, who both said they favored an ECB interest rate cut at next month's policy meeting. ECB Governing Council member Simkus said, "Another interest rate cut by the ECB in June is needed" as the Eurozone is yet to feel the full force of US tariffs, and inflation is expected to continue to slow. ECB Governing Council member Rehn said the ECB should cut interest rates next month if its new financial forecasts confirm an outlook of disinflation and waning growth momentum. Swaps are discounting the chances at 93% for a -25 bp rate cut by the ECB at the June 5 policy meeting. USD/JPY (^USDJPY) Friday fell by -0.40%. The yen strengthened against the dollar Friday on the increase in safe-haven demand for the yen as trade tensions resurfaced when US Commerce Secretary Lutnick said a trade deal with Japan could take significantly more time to complete than the framework agreement President Trump announced Thursday with the UK. Gains in the yen accelerated on Friday after T-note yields fell. Japanese economic news on Friday was mixed for the yen after March household spending rose more than expected, but March labor cash earnings rose less than expected. The Japan Mar leading index CI fell -0.5 to 107.7, stronger than expectations of 107.5. Japan Mar labor cash earnings rose +2.1% y/y, weaker than expectations of +2.5% y/y. Japan's Mar household spending rose +2.1% y/y, stronger than expectations of +0.2% y/y. June gold (GCM2 5) Friday closed up +38.00 (+1.15%), and July silver (SIN2 5) closed up +0.297 (+0.91%). Precious metals prices on Friday posted moderate gains. Friday's dollar weakness was bullish for metals prices. Also, dovish comments Friday from ECB Governing Council members Simkus and Rehn boosted demand for precious metals as a store of value when they said they favored an ECB interest rate cut at next month's policy meeting. An increase in inflation expectations also boosts demand for gold as an inflation hedge after Friday's US 10-year breakeven inflation rate climbed to a 5-week high. In addition, escalating geopolitical risks in South Asia have boosted safe-haven demand for precious metals after India conducted military strikes against Pakistan in response to a militant attack in Kashmir. Finally, geopolitical risks in the Middle East continue to support safe-haven demand for precious metals as the Israel-Hamas conflict continues and as Israel launched an airstrike on Houthi rebels in Yemen. Gains in precious metals on Friday were limited by long liquidation and position squaring ahead of this weekend's trade talks between the US and China. Also, comments on Friday from New York Fed President Williams weighed on silver prices when he said he expects economic growth in the US this year to be "considerably slower" than in 2024, a bearish factor for industrial metal demand.
Zawya
07-05-2025
- Business
- Zawya
Oil rises as market eyes US-China trade talks, lower US output
LONDON: Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 34 cents a barrel, or around 0.6%, to $62.49 a barrel by 1220 GMT, while U.S. West Texas Intermediate crude was up 44 cents, or 0.7%, at $59.53 a barrel. The U.S. and China are due to meet in Switzerland, which could be the first step toward resolving a trade war disrupting the global economy. "It is clear that hopes are high with respect to trade talks," said Bjarne Schieldrop, chief commodities analyst at SEB. Both benchmarks plunged to four-year lows this week after OPEC+ decided to speed up output increases, stoking fears of oversupply at a time when U.S. tariffs have increased concerns about demand. Still, some U.S. producers have signalled that they would cut spending, cautioning that the country's oil output may have peaked, which is also contributing to the uptick in the market, analysts said. "It's also worth noting that the OPEC production increase at the weekend was fully priced in," Saxo Bank analyst Ole Hansen said. The U.S.-China trade talks come after weeks of escalating tensions that have seen duties on goods imports between the world's two largest economies soar well beyond 100%. "However, volatility is expected to persist and the upside appears limited as OPEC+ will release barrels back to the market faster than expected and U.S. policymaking remains unpredictable," said Tamas Varga, an analyst at PVM, a brokerage and consulting firm. U.S. government data on stockpiles is due at 10:30 a.m. ET (1430 GMT). Analysts polled by Reuters expect, on average, an 800,000-barrel decline in U.S. crude oil stocks for last week. Crude stocks fell by 4.5 million barrels in the week ended May 2, market sources said, citing American Petroleum Institute figures on Tuesday.
