This week, which is marked in the 2023 calendar as the 46th, is largely influenced by the expected meeting of representatives of the United States of America and representatives of China, even at the highest level. A meeting between US President Joe Biden and his Chinese counterpart Xi Jinping in the Californian city of San Francisco is scheduled for Wednesday, November 15 this year, on the sidelines of the Asia-Pacific Economic Cooperation summit. Investors and traders expect improved relations and higher commodity exchange in the event of a positive outcome of these negotiations.
However, analysts, financial strategists and China trade experts say they don’t expect any major breakthrough in U.S.-China trade relations, except perhaps that if the mutual talks produce a compromise solution on both sides, the situation should not escalate in the near future to a state of US-China trade war, as was the case under the head of the House of Bélé, US President Donald Trump. The international foreign exchange market under the pressure of investor sentiment during the European Monday afternoon of November 13, 2023, at approximately 15:13 CET, maintains the exchange value of the American dollar (USD) at a relatively still high value. According to the dollar index DXY (US Dollar Currency Index), the value of the USD according to this index on the indicated day and time was at the point level of USD 105.90 points with a daily growth of + 0.03% of the point value according to this index, which compares the value USD with another six major world currencies.
Thus, on the indicated day and time, the global currency pair of the single European currency Euro (EUR) and the US dollar (USD), as the world’s reserve currency, was traded in the forex trades of the foreign exchange market at a mutual exchange rate at a value of 1.067 USD per EUR with the previous decrease EUR by – 0.131% of the exchange rate against the USD. The reaction of the financial markets to the meeting of the American and Chinese leaders is currently a hit in the economic world news, but the markets are still dealing with geopolitical events both in the Middle East in the war between Israel and Palestine and in Ukraine, where the fighting between Ukraine and the Russian Federation is still ongoing. Currently, a new fact has appeared in all this happening, not only the Biden-Jinping meeting itself, but the statement of the US President’s security advisor, Mr. Jake Sullivan, that President Biden wants to restore military ties with China. “The Chinese have essentially severed these communication links. President Biden would like to restore them,” Sullivan said on CBS.
“It is one of the main points of the program,” he specified. “We need these lines of communication so there are no mistakes, wrong assumptions or misunderstandings,” Mr Sullivan added. This is only the second face-to-face meeting between Biden and Xi since the US president took office. According to the US side, the restoration of military ties should take place at all levels, from senior leadership to the tactical operational level, as well as “on the water and in the air in the Indo-Pacific”. In addition to bilateral relations, the two leaders will also discuss important global issues such as the situation in the Middle East, the ongoing Russian invasion of Ukraine, North Korea’s ties to Russia, Taiwan, the Indo-Pacific, human rights, artificial intelligence and also “fair” trade and economic relations, a senior US official said, according to Reuters.