Negotiations between Donald Trump and Jean-Claude Juncker are doing well after the US president showed good intentions and expectations about trade practices between the US and the EU. During the statement Trump praised Juncker as a very smart and hard man in terms of negotiations.
For his part, Juncker said the United States and the EU have always been allies, not enemies, and the best they can do right now is to focus on lowering tariffs rather than increasing.
Trump said he expects a serious and reciprocal trade deal that will only bring positive results for both sides.
The market reaction, USD/JPY, fell momentarily, then went up, accumulating positivism around the news. The driving force here is JPY, as concerns around the automotive sector are down, and the need for Safe Haven is down. As far as the indexes are concerned, the reduced market risk has led to an increase in core stock indices. Given the positives that the EU is expected to receive, we can also break the news through the ECB's prism. Good trade relations between the EU and the United States will reassure members of the ECB and give more courage to the summit tomorrow, where the central bank is expected to confirm the path to tightening monetary policy.
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