Trade negotiations the US and China could drag on for years
China has published good data on the PMI service sector
Australia's GDP fell short of the forecast level
Negotiations between the US and China can be continued after the elections in 2020. On the eve of this Wilbur Ross, US Secretary of Commerce said. he said in an interview with CNBC, Trump wants to make a good trade agreement with China, so do not hurry with the signing of an agreement for the sake of achieving political goals. At the same time, Ross noted that Donald Trump may impose new duties on Chinese imports from December 15 if there is no progress in the negotiations.
According to Caixin PMI services sector in China in the past month increased from 51.1 to 53.5 points, its highest level since July of this year. This is another positive signal about the state and the restoration of the Chinese economy. On Monday, it was published data on the manufacturing sector PMI, which rose from 51.4 to 51.8 points.
Today, Australia has published data on the growth of GDP in the third quarter. Figure was lower than expected levels (0.4% fact, forecast 0.5%). The main reason for the weaker growth is the low level of household consumption. This disturbing signal for the RAB controller as previously stated, that the cycle of lower interest rates is directed primarily to stimulate consumer demand.
News, which you should pay attention today:
09:30 GMT. United Kingdom: PMI services sector in November
13:15 GMT. US: change in the number of people employed in non-farm payrolls from ADP for November
15:00 GMT. US purchasing managers' index for the non-productive sphere of the US ISM for November
15:00 GMT. Canada: Bank of Canada's decision on interest rates
15:30 GMT. US Weekly US Department of Energy
News and forex analyst FORTFS
News → DAILY NEWS - US and China may sign a trade agreement before the presidential elections 2020