Highlights:

• Both the US and China are optimistic that a ‘phase one’ trade deal will be reached, but subsequent negotiations will likely prove more difficult.

• Tension between the US and Iran following the US assassination of Iranian general Soleimani has left markets on edge.

• The devastation from the Australian bushfires will have a significant impact on economic growth and may prompt further action by the RBA.

• A Conservative Party victory in the UK general election has allowed the government to move ahead with its EU withdrawal bill, paving the way for Brexit on 31 January 2020.

• Recent positive economic news from China has given markets confidence that an economic recovery may be possible.

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