Asian shares made guarded gains on Monday as investors braced for another week o...
SYDNEY - Asian shares made guarded gains on Monday as investors braced for another week of likely conflicting commentary on the Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers.
On Saturday, U.S. national security adviser Robert O’Brien said an initial trade agreement with China is still possible by the end of the year, but warned Washington would not turn a blind eye to what happens in Hong Kong. “Markets are showing some signs of tiring of the steady drip feed of upbeat comments from U.S. officials and no signs of a final agreement looking likely,” said Robert Rennie, head of financial market strategy at Westpac.
Reuters reported an ambitious “phase two” trade deal was also looking less likely, according to U.S. and Beijing officials, lawmakers and trade experts.In currency markets, the dollar had rallied on Friday when U.S. manufacturing surveys beat forecasts, just as European Union numbers disappointed.
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