19 Aug 2022

Chinese President Xi and Russian President Putin to attend G20 in Indonesia

Bloomberg has reported that President Xi Jinping and Russian leader Vladimir Putin are both planning to attend a Group of 20 summit in the resort island of Bali later this year, Indonesian President Joko Widodo said.

“Xi Jinping will come. President Putin has also told me he will come,” Jokowi, as the president is known, said in an interview with Bloomberg News Editor-in-Chief John Micklethwait on Thursday. It was the first time the leader of the world’s fourth-most populous nation confirmed both of them were planning to show up at the November summit.

The article is doing the rounds and so far, the US dollar is bid in the Tokyo open. The prospects are that this could stir up some geopolitical angst given the Ukraine crisis. The West could decide to boycott the gathering, for instance. In an interview with ZDF, European Commission President Ursula von der Leyen said that: “We have to consider very carefully whether we paralyze the entire G20; I don’t advocate that. In my opinion, G20 is too important, also for the developing countries, the emerging countries, that we should let this body be broken by Putin.”

US dollar technical analysis

The DXY has rallied in the Tokyo open as the news dropped and the greyed-out area is an area of imbalance on the higher time frames that could be mitigated towards the 108 area in the day ahead if the bulls stick to the course.

Chinese President Xi and Russian President Putin to attend G20 in Indonesia

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