Donald Trump expects 'great deal' with China over trade

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The New Zealand dollar got a lift when markets were cheered after US President Donald Trump told Fox News that he predicts a "great deal" with China on trade.

The list would apply to the imports from China that aren't already covered by previous rounds of tariffs-which may be $257 billion using last year's import figures, according to two of the people.

The study notes, "despite the fact that more than 70% of us companies consider the suspension of investment in China and moving some or all production overseas, only half of Chinese companies support this approach", reports UKRINFORM. Asian shares were mostly higher on Tuesday as traders took the weaker yuan as a sign that Chinese exports can remain competitive even if a trade dispute with Washington heats up.

The trade war between China and the USA will not be ending soon. Bulls remain on the back foot, with early gains Monday fueled by speculation stocks had gotten cheap during the sell-off wiped out in afternoon trading. The tech-heavy Nasdaq composite slid 116.92 points, or 1.6%, to 7,050.29.

The Dow Jones Industrial Average gained as much as 352 points Monday morning but closed down 245.39 points, or 1 percent, to 24,442.92. The S&P 500 index swung by almost 4 percent from its high to the low in the trading session, with tech stocks and Boeing particularly hard hit.

A spokeswoman for the US Trade Representative's office referred Reuters to Sanders' statement, while US Commerce Department officials did not immediately respond to requests for comment.

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"I think it's a reflection of the lack of conviction that we have in the market right now", Fehr said in an interview.

New Zealand's two-year swap rate rose 1 basis point to 1.99 per cent; the 10-year swaps were unchanged at 2.78 per cent.

The response on Wall Street was to send the Dow plunging after it had opened by more than 300 points up. Natural gas was unchanged at $3.19 per 1,000 cubic feet.Gold lost 0.7 percent to $1,227.60 an ounce. U.S. West Texas Intermediate (WTI) crude futures fell 94 cents to $66.10 a barrel, a 1.4-per-cent decline. The euro fell to $1.1354 from $1.1372.

USA crude fell 1.06 percent to $66.33 per barrel and Brent was last at $76.30, down 1.34 percent.

The yield on 10-year Treasuries added one basis point to 3.08 percent. The Clinton administration made public a negotiating offer by the then Chinese Premier Zhu Rongji, which led to him being pilloried at home for offering too many concessions.

CURRENCIES: The dollar strengthened to 112.95 yen from 112.37 yen late Monday.

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