Head of Research Suan Teck Kin, CFA and Head of Markets Strategy Heng Koon How, CAIA at UOB Group gave their opinion on the recent partial US-China trade deal. Key Quotes “While the US announced a “substantial” Phase 1 deal, the lack of concrete details and the array of outstanding issues suggest there is still a long way toward full resolution”. “It will be 3 to 5 weeks toward a detailed agreement for Phase 1 and the uncertainty is likely to keep financial markets on cautious mood in the run up to the APEC Summit on 16-17 Nov”. “If Phase 1 comes to pass, it could be a baby step towards some kind of trade resolution by the first half of 2020 at the earliest. This remains our base case scenario (60% probability) while our worst case scenario (35% probability) sees both sides unable to agree at Phase 1, leading to the implementation of the delayed and planned tariffs and retaliations extending into other areas including services trade and investment restrictions etc”. “The uncertainties in trade talks and risk of further growth slowdown in China to 5.9% next year will continue to drive the gradual USD/CNY rise towards 7.20 by end of this year and 7.30 by middle of 2020 in our forecast“. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Fresh Brexit hope lifts GBP/USD, mixed opinions about the US-Sino deal, Fed-speak eyed FX Street 4 years Head of Research Suan Teck Kin, CFA and Head of Markets Strategy Heng Koon How, CAIA at UOB Group gave their opinion on the recent partial US-China trade deal. Key Quotes "While the US announced a "substantial" Phase 1 deal, the lack of concrete details and the array of outstanding issues suggest there is still a long way toward full resolution". "It will be 3 to 5 weeks toward a detailed agreement for Phase 1 and the uncertainty is likely to keep financial markets on cautious mood in the run up to the APEC Summit on 16-17 Nov". "If Phase… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
