US-China agree on trade deal   

Dec 13 (Lagos) - USA and China have agreed on phase 1 of the trade deal which will see US cancel sanctions which were supposed to be imposed on Dec 15th. 

China will purchase 50 billion worth of US goods such as agricultural produce, petroleum etc. 

US will half sanctions on $ 360 billion worth of goods. 

Asian Stock markets are rallying hard today on this news. Japan's NEKKEI and Hong Kong's Hang Seng are up more than 2% each. Shanghai composite is up more than 1%, Korea is up more than 1% and India's Sensex is up almost 1% at the time of writing this article. 

There is positive news on the Brexit as well with the labor looking set for a drubbing. The British Pound is rallying hard against the Dollar. 

Crude oil prices are also rallying on the trade deal. New York's NYMEX futures are almost close to $ 60 a barrel while the BRENT crude oil prices are above the $ 64 a barrel mark. 

reporting for on Friday, Dec 13 2019 from Lagos, Nigeria
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