The most important macroeconomic events of the week

In Argentina the G20 Summit was held (forum of leaders, finance ministers and central bank governors), one of the most important events in the world and the attention was concentrated in the US-CHINA dialogue. President Donald Trump and Chinese President Xi Jinping have decided to postpone the imposition on the new duties, Trump will therefore leave to 10% the duties on goods imported from China for 200 billion (for now).

In order to balance out, China will immediately purchase American agricultural products and will also agree to purchase a significant amount of industrial and technological goods. Negotiations to determine the size of these purchases will last 90 days, if there is no agreement Trump will raise the duties to 25%.

The OPEC Summit, to be held in Vienna is certainly not of minor importance, so much attention to the statements on Thursday and Friday. The OPEC council has suggested lowering the production of 1.3 million barrels per day, the goal is to support prices.

Another very important data is the nonfarm pay rolls (NFP), Friday at 14.30. There are 200K new jobs and unemployment equal to 3.7%, extremely positive data that would confirm once again the excellent state of the American economy.

Last but not least is the FED President's statements on Wednesday, which is very expected since last week he declared that interest rates are ‘slightly’ below neutral levels, announcing a minor increase in them in 2019.

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