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Daily News - China urges White House to remove Chinese companies from blacklist

1. Relations between official Beijing and Washington are exacerbated

2. Until October 31, the GBP / USD pair may test the level of 1.20

Today, the Ministry of Commerce of China called on the White House to remove Chinese companies from the black list, promising to take all necessary measures to protect national interests. The ministry rejected US allegations of violating the rights of the Muslim minority, noting that government policies in the region are aimed at supporting local economic growth and strengthening social stability. Recall that the United States previously included 28 Chinese organizations on the export blacklist, noting their role in suppressing Muslim minorities in northwestern China. Investors fear that these actions may complicate trade negotiations between the US and China, which will be held on October 10-11. Earlier, the Chinese news publication South China Morning Post reported that the Chinese delegation will reduce its stay in Washington by one night.

The British pound continues to be traded in the area of ​​September lows against the background of behind-the-scenes statements by officials on the failure of negotiations to conclude an agreement on Brexit until October 31. Experts believe that the creation of a deadlock in the negotiations and the uncertainty of the upcoming parliamentary elections in the UK will increase pressure on the British currency. A decrease in the GBP / USD pair before October 31 to 1.20 seems to be a very realistic scenario. The new head of the IMF, Kristalina Georgieva, notes that the Brexit problem will accelerate the process of global economic slowdown. She believes that Brexit in any form will not go painlessly. Low-income countries, which are closely linked to the EU and UK economies, will be hit hardest.

 

News worth paying attention to today:

14:30 GMT. US: US Department of Energy Oil Reserves Report

15:00 GMT. US: Fed Speech Jerome Powell

18:00 GMT. USA: FOMC Protocol Publication

 

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