In the wake of luminous signs of trade truce between US and China, Wall Street had been robust on Monday, 3rd December, posting its best day over the last couple of weeks. Apart from Wall Street, the global stocks had reached to their highest in roughly three-week on Monday, which triggered a sell-off of American Dollar and Chinese Yuan remained relatively higher.
Several trade dependent currencies did end up the day higher as well. This Wall Street rally alongside, global stock upsurge, have been considering as relief rallies from trade war, as US president Donald Trump and Chinse President Xi Jinping had agreed to a trade truce, over a Saturday night dinner in the recent G20 summit.
As stakes were too high and a failure to reach a trade truce would grievously hurt the global stocks and economy, investors worldwide are celebrating. Although a chief investment strategist at State Street Global Advisors, Michael Arone said, “Today is mostly about celebrating the fact that the U.S.
and China have delayed what could have been the some of the worst-case scenarios regarding their trade relations,” he also mentioned that the trade war is still having a beating heart, as there had been a number of “very sticky” issues to be resolved regarding the trade commitments.