China’s industrial policies raise significant questions about its commitment to core World Trade Organization principles and the US saw evidence that China is moving to a more restrictive trade policy. Other than that, everything is peachy, says the US Trade Representative. Thus continues the love/hate relationship between China and the US.
EUR/USD is off its lows, trading in the 1.4270 area. The S&P continues to try and chip away at resistance at the 1120 area in the S&P 500. Commodities have bounced sharply, led by oil which is up a dollar on the day after falling a buck earlier. It is now at $74.77. Gold is at $1087 from 1075 lows.
