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The good news  in US President Trump announcing  that the deal with China may be signed soon  has been superseded by a Reuters news that stated that  Xi had accused the United States of interfering in its internal affairs.

The two leaders spoke a week after their envoys sealed a “Phase 1″ agreement aimed at ending an 18-month trade war that has rattled markets and raised tensions.

Trump announced the phone call in a tweet. A White House official said they spoke on Friday morning. China Central Television said Xi spoke to Trump at the request of the U.S. president.

“Had a very good talk with President Xi of China concerning our giant Trade Deal. China has already started large scale purchase of agricultural product & more. Formal signing being arranged. Also talked about North Korea, where we are working with China, & Hong Kong (progress!)” Trump tweeted,

– a Reuters article read.  

FX implications

AUD/JPY is giving  back some ground in the open, down in a range of between 75.61 and 75.22.

  • Charts of the week: AUD/JPY & GBP/USD move to critical levels, extensions likely