News

• Cautiously optimistic on EU trade deal with the US.
• I am optimistic we can agree deal with USA by the end of this month.
• I am in intensive contact with US government as well as EU Comission on tariffs.

This follows other news that seem to suggest that negotiations got sped up and a deal or something that looks like it could be within close reach. Trump is likely to get away with the 10% tariff though but will likely make other concessions to secure the deal.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

• EU is getting ready for all scenarios

Both sides look to be working towards a temporary “framework” agreement as outlined here. However, there might be a sticking point on agrifood so we’ll have to see. The EU has maintained that they will fight back if need be but for now, a temporary “deal” will at least help to kick the can down the road for a few more weeks/months.

This article was written by Justin Low at www.forexlive.com.

• EU need to readjust its attitude, not China
• Hopes EU can uphold more positive, practical policy towards China
• Hopes for positive bilateral economic and trade relations
• EU’s public procurement market is far from being fair and open as they claim it to be

In case you’re wondering what this is related to: China restricts government purchases of medical devices from the EU – retaliation

This article was written by Justin Low at www.forexlive.com.

• Eurostoxx +0.3%
• Germany DAX +0.3%
• France CAC 40 +0.3%
• UK FTSE +0.3%
• Spain IBEX +0.6%
• Italy FTSE MIB +0.3%

The latest report here on a EU-US deal is helping with the mood, as the EU will be slapped with lower tariffs as both sides continue to negotiate. The deadline though looks set to go past 1 August but again, it’s a matter of whether or not Trump will lose his patience before then. As for the broader market mood, things are more tentative on the day. S&P 500 futures are down 0.06% as we get the session underway.

This article was written by Justin Low at www.forexlive.com.