Chinese Vice-Premier He Lifeng said a joint statement would be released in Geneva on Monday.
- Vice-Commerce Minister Li Chenggang said it would contain “good news for the world”.
As yet I haven’t found a scheduled time for the release of this expected joint statement.
What we have had so far from official statements has been a bit vague, as posted much earlier:
China side:
- a mechanism for further talks has been agreed (agreed to establish a ‘China-US trade consultation mechanism’ )
- the joint statement to come will be “good news for the world.”
US side:
- Bessent said there had been “substantial progress”
- Greer said that “perhaps the differences were not so large as maybe thought”
As for markets, in summary:
- EUR/USD traded a gap lower very early Monday but has more or less converted that gap
- USD/JPY gapped higher in early trade and has retraced around 50% of the gap
- USequity index futures opened with a gap higher and have barely retraced at all
- Oil opened with a gap higher and has filled it
From earlier also:
This article was written by Eamonn Sheridan at www.forexlive.com.