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Global risk assets are bid on the view that this week's Trump-Xi meeting will be a positive one. A 25bp Fed cut on Wednesday should also help the tone, but that is very much priced in. With the People's Bank of China continuing to fix USD/CNY lower, we favour a mild downside bias to the dollar at the start of the week

Stocks ended sharply down as investors remained cautious ahead of the Federal Reserve’s monetary policy decision. Treasury yields fell on strong demand for 20-year bond auction. The dollar weakened further, while gold hit a new record high. Oil prices eased as Ukraine peace talks offset Mideast instability worries.

























































































