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Danske Bank analysts note that IMF to revise up Chinese growth from 5.8% to around 6% after phase-one deal.

Key Quotes

“Data on industrial production and retail sales underpin growth of at least 6% in Q4 and early 2020. We see more upside in Chinese equities.”

“Signing of a phase-one deal is still on track for early January. Xi Jinping will not join Davos meeting, which could have been a Xi-Trump signing opportunity.”

“USD/CNY treads water around 7-level. We look for more downside in 2020.”