020 7898 0500The world breathed a collective sigh of relief yesterday as Mnuchin confirmed that the US and China have agreed to suspend trade tariffs for the time being. Speaking to reporters, the US Treasury Secretary said that progress had been made and China has promised to help close the US trade gap. Although this news was understandably met with no small degree of satisfaction, the details of the agreement are yet to be ironed out. Watch this space.
Today is a quiet one for US economic data, but we might hear further news of the trade agreement between the US and China, while tomorrow we will see new home sales for April and the FOMC minutes. If there is any indication of future economic policy, especially hints of more rate rises throughout 2018, then we could see some further dollar strengthening.
