The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Trade “agreement” sees market surge, with Equities biggest beneficiary
– No further tariff increases, but existing tariffs remain
– China to increase agricultural purchases to $40 -$50 billion
– “unspecified” commitments from China on industrial production, Financial services and currencies
– To be signed at APEC, at least a start, but really so much still be to sorted
* NZD and AUD unable to hold gains despite Phase-1 agreement