China offers no comment on Bolton firing overnight

Author: Justin Low | Category: News

The Chinese foreign ministry says that it has no comments on personnel changes in the US administration

In case you missed the overnight headline (⬆️). The main reaction to the news came via oil as prices dropped in response to possibly less of a hard line being drawn now by the US in the Middle East - especially on Iran.

However, it also presents some form of good news for risk assets in general as it could lead to more amiable international relations involving the US. For some context, the large part of the US administration's targeting of Huawei has been drawn up by Bolton's staff and he has backed those views throughout the past year or so.

Overall, it still doesn't mean we're closer to a trade deal between the two countries. I think China would rather have Lighthizer gone but you take what you can get. Bolton wasn't a key impediment to a trade deal but he wasn't helping to facilitate one either.

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