U.S. official: Trump spoke several times with his Chinese counterpart regarding Beijing's financial support for Iran and Russia

A U.S. official reported that former President Trump engaged in multiple discussions with his Chinese counterpart concerning Beijing's financial backing for Iran and Russia. This development could influence geopolitical risk perceptions, particularly through the channel of risk appetite, as markets assess the implications of U.S.-China relations on global stability. Assets most exposed include commodities linked to Iran and Russia, such as oil and natural gas, which may experience volatility due to potential sanctions or shifts in trade dynamics. Traders will closely watch any forthcoming statements from the Biden administration regarding its stance on these discussions and their impact on U.S. foreign policy.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

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