Markets have been choppy amid varying views on the prospect of any sort of trade deal this weekend between Trump and Xi at the G20. Oil has been especially volatile, initially taking more heat before it was reported that Russia might join OPEC in limiting supply. The latest readings on German and US inflation have underwhelmed expectations, but activity indicators are generally better, except for US housing. The AUD has perked up a little beyond 0.73 since the release of the FOMC Minutes pointing to more rate flexibility ahead after a December hike, also pushing US equities back into the black. Meanwhile there have been conflicting reports ahead of Xi and Trump’s highly anticipated and important dinner meeting Saturday night in Argentina, after the G20 summit.
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