The US is seeking a trade truce with China as Steve Mnuchin considers a trip East. Mnuchin added that he…
“Cautiously Optimistic” Rally in USD; BOC Approaches Rates Tactfully
Published April 23, 2018
The US is seeking a trade truce with China as Steve Mnuchin considers a trip East. Mnuchin added that he is “cautiously optimistic” that a deal could be reached, of which the Chinese Ministry of Commerce reiterated.
The yield on the US 10-Year Treasury Note is trading at a critical 2.995% this morning, as a week of economic data weighs heavily upon investors. An increased yield above 3.00% is viewed as a key indicator marking the end of the decades long bull market.
The USD has rallied early against major peers with a week of key indicators ahead, including debt supply, US manufacturing and services PMI’s, GDP and jobless claims.
Bank of Canada Governor Poloz is approaching rate hikes cautiously, as Canada’s inflation is rapidly rising with economic expansion nearing capacity.