GlobalData TS Lombard
May 13, 2026
A Beijing Accord
Macro ThematicCommoditiesEquitiesFXEnergyIndustrials
The upcoming Trump-Xi summit aims to stabilize US-China relations through a potential 'Beijing Accord' involving RMB appreciation and concessions on tech and Taiwan.
Key Takeaways
- 1.An upcoming summit between Presidents Trump and Xi is expected to stabilize US-China relations and add conviction to long China trades.
- 2.A 'Beijing Accord' may involve a commitment for RMB appreciation, with USDCNY potentially reaching the 5.x range.
- 3.Taiwan is a top priority for Beijing, and concessions from Washington could include slowing weapons sales or reaffirming 'One China' policy.
Table of Contents
- China Watch
- A BEIJING ACCORD
- Disclaimer
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Authors
Rory Green
Securities
USDCNYNVDABAUS TreasuriesUSDJPY
Themes
RMB Internationalization and AppreciationStrategic Concessions on Taiwan and TechnologyUS-China Geopolitical Thaw
Regions
Asia PacificNorth AmericaMiddle EastChinaUnited StatesTaiwan