Dollar rate changes direction. Trump will visit Beijing. "I need this summit more than Xi"

All eyes on Beijing. Trump will meet Xi
Dollar and euro rates on Wednesday, May 13

All eyes on Beijing. Trump will meet Xi

Donald Trump will be in Beijing from May 13-15, where he will meet the Chinese leader, Xi Jinping.

According to Bloomberg, China, as the largest buyer of Iranian oil and a strategic partner of Tehran, appears to have a strong bargaining position in trade and tariff negotiations.

Read also: Suspicious oil market transactions. Insider traders earned billions of dollars. “A frightening example of market manipulation.”

Scott Bessent, U.S. Treasury Secretary at the beginning of May, called on Beijing to help reopen the Strait of Hormuz for international shipping.

The official added that Trump and Xi would discuss the issue at the upcoming meeting.

However, Jeremy Chan, senior analyst at Eurasia Group and former U.S. diplomat, claims that “Trump needs this summit more than Xi, and Xi knows it.”

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The expert expects that the November midterms will test Americans’ feelings about rising fuel prices, while Trump will seek to achieve voter‑friendly successes in agricultural product procurement.

“Xi arrives at the summit convinced he can outmaneuver Trump,” he said, referring to China’s advantage in strategic resources.

Meanwhile, Trump is intensifying a campaign to pressure Tehran into agreeing to an agreement.

The key issue in negotiations remains the enrichment of uranium by Iran.

dollar rate changes direction trump will visit beijing i need this summit more than xi grafika numer 1 ✕

Source: Bloomberg.

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Read also: Dollar rate on a long road to 4 PLN? Expert issued forecasts for USD/PLN and EUR/USD. “The dollar could gain.”

See also: Will the dollar surprise again? Expert issued a forecast for USD/PLN and EUR/USD. “I can’t believe there will be no more fires.”

Dollar and euro rates on Wednesday, May 13

The dollar to zloty rate on Wednesday, May 13 is at 3,62 PLN.

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Chart. Dollar to zloty rate (USD/PLN)

dollar rate changes direction trump will visit beijing i need this summit more than xi grafika numer 2 ✕

Source: TradingView.

The euro to dollar rate reaches 1,17 USD.

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Chart. Euro to dollar rate (EUR/USD)

dollar rate changes direction trump will visit beijing i need this summit more than xi grafika numer 3 ✕

Source: TradingView.

Read also: Dollar rate before a breakout chance? Expert: “Capital will flow back into USD.”

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See also: Dollar rate before a “nervous and dynamic” move, euro waiting for a drop? Expert issued forecasts for USD/PLN and EUR/USD

Source: Bloomberg.

FXMAG Team

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