Markets living on high apple pie, in the sky hopes

US equities finished last week on new highs on the hope that the phase one trade deal between the US and China is close. NAB’s Rodrigo Catril says the news continues to blow hot and cold, and currency markets seem to have taken a different interpretation to equities. Meanwhile President Trump has tweeted that China’s tariffs will be used to fund more support for farmers – almost selling the dispute as a benefit for his domestic audience. And the Aussie dollar had a good day on Friday. Phil Dobbie asks what will influence its direction this week?

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