EUR USD Exchange Rate Outlook Fair, US-China Points Persist
Recently, the Euro to US Dollar (EUR/USD) exchange rate remained flat. Moreover, the pair has left the trading at around $1.1015.
According to a White House adviser, the pairing was under pressure. Meanwhile, a US-China trade deal was sealed, but several sticking points continue.
Last Tuesday, White House Adviser, Kellyanne Conway, indicated that three of the most significant sticking points linger.
In a news report interview, Conway stated, “We’re getting really close, and that first phase is significant. But the president wants to do this in phases, in interim pieces because it’s such a large, historic trade deal.”
Conway added, “We continue to negotiate, but those forced tech transfers, the theft of intellectual property, the trade imbalance of half a trillion a year with the world’s second-largest economy, China – this makes no sense to people.”
Lastly, “But the president wants a deal. But President Trump always waits for the best deal,” he said.
However, administrators in China have indicated that they do not look forward to discussing “phase two” before the November 2020 election.
Diminishing USD Exchange Trading Rates in Front of Thanksgiving
Elsewhere, China’s Global Times confirmed that the US and China were close to reaching a “phase one” trade deal at the start of the week.
A high-level phone call among US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin, as well as China’s Vice Premier Liu He struggled to strike out the finishing details of the deal last Tuesday.
Meanwhile, the Chinese Commerce Ministry indicated that the officials debated “core issues of concern.”
In addition, they have discussed being able to reach “a collective insight on resolving relevant problems.”
However, this did little, and the Euro US Dollar exchange rate was muted. The currency’s trading has also started reducing before Thursday’s US Thanksgiving holiday.