NEW YORK (Reuters) – Global equity markets gained and the dollar held steady on Thursday ahead of the G20 summit where a much-anticipated meeting of U.S. President Donald Trump and Chinese President Xi Jinping may lead to a truce in the U.S.-China trade war.
The world’s two largest economies have agreed to a tentative truce in their trade dispute before the planned meeting on Saturday, Hong Kong’s South China Morning Post reported, citing sources.
The report rekindled investor interest in riskier assets and weighed on safe-havens as it dialed down fears that Trump would impose new tariffs on $300 billion in Chinese goods.
A Wall Street Journal report that Xi planned to present Trump with a set of terms Washington should meet before Beijing is ready to settle their dispute tempered optimism.
“I continue to be very skeptical that the U.S., at least this current administration, will reach a deal with China,” said Kristina Hooper, chief global market strategist at Invesco in…
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