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Monday started on a buoyant note as the weekend negotiations between the US and the Chinese officials on structural issues, including intellectual property protection, technology transfer, agriculture among others were productive which encouraged President Trump to extend the 1st March deadline.
Asian stocks and trade-sensitive currencies like the Antipodeans are flashing green. Given that the deadline has been extended, the chances of a trade deal between the two world largest economies also rises which is boding well with investors.
Source: Bloomberg Terminal
In the Australian share market, the real estate sector was the biggest dragger on the ASX today. However, the broad optimism in the market helped the index to close in positive territory despite paring gains in the afternoon trade.
USDCNH (Weekly Chart)
Source: GO MT4
NZDUSD and AUDUSD (Hourly Chart)
Source: GO MT4
The move in the financial markets in the Asian session following the “delay” announcement has not been huge, but it lifted sentiment and brought relief to the markets!
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