FX Daily: Rare Earth Exports and Trade Tensions
China's rare earth export controls have become a key factor in determining risk appetite in FX markets over the next four weeks.
The decision to impose export controls on rare earths has sparked concern in the US and G7 nations, making it a crucial topic for financial markets.
The ability or failure to negotiate those controls away will be one of the hottest topics for financial markets over the next four weeks.
The dollar has softened slightly, with short-dated US rates at their lowest for the year, following the release of the Fed's Beige Book, which suggests a rate cut at the end of the month.
- US-China relations are currently the hottest topic for financial markets.
- Key dates are approaching, with betting markets expecting the government shutdown to continue into November.
Author's summary: Rare earth exports spark trade tensions.
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