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Hello and welcome to our slippery coverage of the global economy, financial markets, the euro zone and businesses.
A dinner for two in an exclusive setting in Buenos Aires? This sounds delicious, especially when the bill should not be a problem.
But this Saturday night date will make a difference – when Donald Trump and Xi Jinping will sit down in a few days, they will have a chance to kiss, put on makeup and calm the trade war that is worrying the global economy.
Larry KudlowTrump, director of the Trump National Economic Council, revealed last night that Trump and Xi would meet for an official dinner at the G20 summit this weekend.
Kudlow told reporters that the two presidents could "turn a new page" in their bilateral economic relations (…) but only if Xi made concessions on trade policy.
Kudlow said:
"President Xi has the opportunity to change the tone and content of these discussions.
This is a great opportunity. President Trump said he was open. We must now know if President Xi is open. "
This is their only meeting scheduled before January, when the United States will increase their tariffs by 10 to 25% on the $ 200 billion of Chinese imports. So, that really matters.
Christophe Barraud?
(@C_Barraud)Ry ?? Larry Kudlow: The White House has "a lot of communication with the #China government at all levels #Asset-Xi in meeting at # G20 – CNBChttps: //t.co/aKczGkO182
Trump raised the issue Tuesday by proposing to impose tariffs on virtually all sales of Chinese products in the United States. This trade war could easily worsen …
Investors, however, hope that China will provide explanations on issues such as intellectual property transfers.
We will see later today whether Trump's tariffs have an effect on the US trade deficit, when the latest figures on imports and exports will be released.
Also coming today
Federal Reserve Chairman Jerome Powell delivers a speech this afternoon. Wall Street will monitor signs that Trump's criticisms of the Fed on interest rate policies have had some effect.
The Bank of England releases the results of its annual stress tests on major UK lenders this afternoon. They will show if UK banks can cope with an economic shock or a recession.
The stress tests will likely be overshadowed by the Bank's analysis of the UK Brexit withdrawal agreement, also released at 4:30 pm, which may warn of a no-deal scenario.
Robert Peston
(@Peston)Great day tomorrow for the Prime Minister who lobbied his deputies for that they support his agreement, because Dexeu and the government economic service will show a result close to it, much better for prosperity than Canada Plus. And the Bank of England will present to Brexit without agreement an economic crash. Go pretty …
Robert Peston
(@Peston)… MEPs are sufficiently afraid to abandon their opposition to his plan for Brexit, or will they continue to argue that the negative prognoses are alarmist?
L & # 39; s calendar
- 1:30 pm Paris time: US trade data for October
- 13:30 (Paris time): Second estimate of US GDP for the third quarter of 2018
- 4:30 pm: Bank of England publishes bank stress tests 2018 and Brexit analysis without agreement
- 17h: Jerome Powell, Fed President, delivers a speech
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