See the latest Australian dollar analysis here:
So says SCMP:
Deputy-level trade talks between the US and China aimed at laying the groundwork for high-level negotiations later this week failed to yield any progress on critical issues, according to two sources with knowledge of the meetings.
During the discussions on Monday and Tuesday in Washington, the Chinese refused to talk about forced technology transfers, one source said, which is a core US grievance regarding China’s economic policies.
Speaking on condition of anonymity, the person said that talks had also skirted the issue of state subsidies, which the Trump administration says give Chinese companies an unfair advantage over international competitors.
Deputy-level negotiators, led on the Chinese side by vice-minister for finance Liao Min, spent the time focusing on only two areas: agricultural purchases and intellectual property protection.
“They have made no progress,” said another source familiar with the talks, adding that the Chinese side had not made headway in persuading US negotiators to consider a freeze on tariff increases, a main priority for Beijing.
The Chinese delegation is planning to leave Washington on Thursday after just one day of principal-level talks, said the second source. Beijing’s negotiating team, headed by Vice-Premier Liu He, had previously planned to leave Washington late on Friday, allowing for up to two full days of talks.
AUD getting falling again:
S&P futures not happy:
NEW: WH says SCMP report is inaccurate. Spox Judd Deere tells me: “We are not aware of a change in the Vice Premier’s travel plans at this time.”
Senior admin official says Liu still scheduled to depart Friday evening, and dinner is on for the delegation Thursday evening in DC.
— Kayla Tausche (@kaylatausche) October 10, 2019