The mood music among financial markets much better on news of which the U.S. in addition to also China are due to hold lower-level trade talks This kind of week, with market participants hopeful they might find a way to resolve an escalating tariff war.
The talks are reportedly set to take place in Washington through Tuesday in addition to also Wednesday, shortly before completely new U.S. charges on Chinese goods take effect. The meeting between trade officials has renewed speculation of a potential summit between President Donald Trump in addition to also Chinese President Xi Jinping in November.
In Asia, shares were up slightly overnight as the Chinese yuan rallied away by recent low levels. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, gained 0.4 percent.
Back in Europe, a steadying Turkish lira helped to boost market sentiment Monday, with the currency holding around 5.9672 against the dollar in early morning deals.
Last week, sharp declines from the lira sparked fears of contagion amid a dramatic sell-off in emerging markets’ currencies in addition to also stocks. The currency has lost more than 40 percent of its value against the dollar This kind of year.