U.S. stocks hit one-month highs on Thursday on hopes of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks next month, while strong U.S. economic data allayed some concerns of a slowdown. China’s Commerce Ministry said its trade team would lay the groundwork with their U.S. counterparts in mid-September for the October talks.
Oil hit session highs after a U.S. government report showed a bigger crude stockpile draw than expected, adding to optimism over China and the U.S. resuming trade talks.
The USD is stronger against most currencies with the GBP being the exception, the pound surged to a five-week high on Thursday after lawmakers voted to prevent Prime Minister Boris Johnson taking Britain out of the European Union on Oct. 31 without a transition agreement and his brother Jo quit the government, citing national interest.
The Canadian dollar remains basically unchanged, waiting for tomorrow’s labour numbers.