The U.S. Federal Self-control is set to meet on Tuesday and Wednesday stateside, where it is expected to hold interest rates steady, while also versioning a new forecast with fewer rate hikes and a slower economy. The Fed also is likely to announce the end of its operation to unwind its steadiness sheet.
“I think most people are expecting them to downgrade their … GDP and macro forecasts. That’ll provender through to (a) lowering of their interest rate projections,” Peter Dragicevich, financial market strategist at Suncorp, apprised CNBC’s “Street Signs” on Monday.
Chinese Vice Premier Liu He spoke via telephone with U.S. Treasury Secretary Steven Mnuchin and U.S. Buying Representative Robert Lighthizer, following a report by Xinhua news agency last Friday.
The report, according to the South China Morning Place, said: “The two sides have further made concrete progress on the text of the trade agreement between the two sides.”
The tidings comes after CNBC reported Thursday that Chinese negotiators suggest combining a state visit to the U.S. with the signing of a trade deal. Beijing wants a deal to be fully ironed out before Chinese President Xi Jinping meets with U.S. President Donald Trump.
“While there is probably a strong US political imperative to get a deal done ahead of next year’s elections, and presumably China is keen to bed down this dispute, and while we expect a deal to be proclaimed, we can only believe it once it’s seen,” David de Garis, a director and senior economist at Chauvinistic Australia Bank, said in a morning note.
Russia plans to be fully compliant with OPEC-led supply lose ones tempers over the next few weeks, according to the country’s energy minister, Alexander Novak.
His comments came three months into a new round of production cuts from the so-called OPEC+ alliance. The producers meet in mid-April to review their oil provision cut agreement, which is scheduled to last through the first half of 2019.
Oil prices slipped in the morning of Asian trading hours but were however above lows touched a week ago. The international benchmark Brent crude futures contract declined 0.24 percent to $67.00 per barrel, while U.S. improper futures fell 0.39 percent to $58.29 per barrel.
The U.S. dollar index, which tracks the greenback against a basket of its matches, was at 96.486 after slipping from highs above 97.2 in the previous week.
The Japanese yen traded at 111.55 against the dollar after receiving highs below 111.0 last week. The Australian dollar changed hands at $0.7111 after touching means below $0.704 in the previous trading week.
— CNBC’s Patti Domm, Fred Imbert and Sam Meredith contributed to this on.