020 7898 0500Much like the eurozone and UK, there were very few economic data releases yesterday and so the currency markets were driven by political activity more than anything else. The dollar strengthened against the pound as the Priti Patel situation dominated the headlines from sunrise to sunset.
Meanwhile, US President Donald Trump landed in Beijing as part of his state visit. It is being reported that several US and Chinese companies will sign commercial deals during the course of Trump’s stay. It is interesting to consider that China’s trade surplus with the US is some $223 billion so far this year, despite Trump stating he would reduce this.
It remains to be seen how the visit will go, but it is in the interest of both countries to get along in a mighty fine fashion. It will certainly help both leaders domestically anyway.
Today we have the jobless claims figures released which could provide further evidence that the US economy is in recovery.
