{"id":293289,"date":"2020-06-01T00:21:52","date_gmt":"2020-05-31T14:21:52","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/week-ahead-trumpolitics-central-banks-and-nonfarm-payrolls\/"},"modified":"2021-02-19T12:13:46","modified_gmt":"2021-02-19T01:13:46","slug":"week-ahead-trumpolitics-central-banks-and-nonfarm-payrolls","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/weekly-summaries\/week-ahead-trumpolitics-central-banks-and-nonfarm-payrolls\/","title":{"rendered":"Week Ahead: Trumpolitics, Central Banks and Nonfarm Payrolls"},"content":{"rendered":"

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarkets<\/a><\/p>\n

Trumpolitics<\/b><\/h4>\n

Markets dissected President Trump\u2019s remarks on actions against China on Friday. A key takeaway from those remarks was that the US President did not mention the Phase One trade deal between the US and China and instead focused on China\u2019s handling of coronavirus, the World Health Organisation (WHO) and Hong Kong controversial security law:<\/span><\/p>\n

Coronavirus pandemic:<\/b><\/p>\n

\u00a0\u201c<\/span><\/i>The world is now suffering as a result of the malfeasance of the Chinese government. China\u2019s cover-up of the Wuhan virus allowed the disease to spread all over the world, instigating a global pandemic that has cost more than 100,000 American lives and over a million lives worldwide.\u201d<\/span><\/i><\/p>\n

WHO:<\/b><\/p>\n

\u201c<\/span><\/i>Because they have failed to make the requested and greatly needed reforms, we will be today terminating our relationship with the World Health Organization and redirecting those funds to other worldwide and deserving, urgent, global public health needs.<\/span><\/i>\u201d<\/span><\/i><\/p>\n

Autonomous Hong Kong:<\/b><\/p>\n

\u201c<\/span>China\u2019s latest incursion, along with other recent developments that degraded the territory\u2019s freedoms, makes clear that Hong Kong is no longer sufficiently autonomous to warrant the special treatment that we have afforded the territory since the handover. China has replaced its promised formula of \u201cone country, two systems\u201d with \u201cone country, one system.\u201d Therefore, I am directing my administration to begin the process of eliminating policy exemptions that give Hong Kong different and special treatment.\u201d<\/span><\/i><\/p>\n

G7 Meeting<\/b><\/p>\n

President Trump postponed the G7 meeting until September which is yet to be confirmed. However, the US President proposed to add Australia, Russia, South Korea and India to the list of nations. By excluding China, the US is sending a clear message that the summit will be about China.\u00a0<\/span><\/p>\n

Despite the soaring tensions between the US and China, investors are finding momentary relief on the narrative that the war of words between the two powerful countries has not yet reached a point where the US President is imposing any sanctions on China that could compromise the trade deal.\u00a0 China is at the forefront of President Trump\u2019s election campaign. Given the pandemic-induced economy, President Trump\u2019s is relying on his tough stance on China.<\/span><\/p>\n

Forex<\/b><\/h4>\n

Aside from geopolitical headlines, the immediate attention will be on central banks at the beginning of the week:<\/span><\/p>\n

Central Banks<\/b><\/h5>\n