Trump and Xi hold a phone call

Trump and Xi held a phone call today, according to Xinhua.

That should be good news as the topics on calls like this are almost always pre-cleared and scripted.

It’s not exactly clear when the call was held or if it’s ongoing now but expect Trump to write about it on Truth Social soon after it’s over.

It’s tough to say exactly what’s priced in regarding any actions coming out of this. I don’t think the market is expecting tariff rates to drop but that would be an upside risks. At minimum, we’d expect them to undo some of the rare earth/chip curbs lately.

This article was written by Adam Button at www.forexlive.com.