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According to Rabobank analysts, the market continues to monitor closely trade talks between the US and China.

Key Quotes

“The Financial Times reported that President Trump has dropped a central demand from trade negotiations with China that it halt alleged instances of commercial cyber theft in order to end a long-running tariff dispute. This implies that Trump wants the deal so badly ahead of the 2020 presidential election that he is prepared to accept a much weaker commitment from Beijing.”

“China firmly denies accusations of cyber theft. More importantly, imposing a strict enforcement mechanism would undermine China’s sovereignty which explains Beijing’s firm resistance to it.”