The U.S. President Donald Trump said he thinks there will be “a great deal” with China on trade. Otherwise he warned new tariffs if a deal fails, opening a new chapter in the US-Sino trade war.
Category: Features
The British pound dropped near 7-week lows against the dollar on Friday and three-week lows versus the euro. Concerns grows about whether the UK and the European Union can achieve a Brexit deal.
The euro is steady on Thursday after a 2-month low in its previous session. The ECB decided to keep policy unchanged and end bond purchases by the end of the year. Traders’ eyes are now on ECB President Mario Draghi’s press conference.
The euro is down to a 6-week low after signs that economic growth could be slowing in Germany and France. The single currency dropped by more than 0.5% to $1.1402.
Traders’ relief over Italy’s budget and Italian borrowing costs’ drop were the main reasons behind euro rally. The euro rally was also encouraged by EU-friendly comments by Italy’s Deputy Prime Minister. Luigi Di Maio stated that the Italian government was ready to sit down with the EU over the Rome’s budget.