The markets are having a mild reaction to reports that China may decline potential trade talks with the United States. The uncertainty around Brexit is also largely being ignored Monday morning as the pound rises.

Thanks, but no thanks

Reports by the Wall Street Journal say that China is considering declining an invitation from the U.S. to restart trade talks after mixed messages from the Trump administration.

Last week, China said it welcomed the invitation from Treasury Secretary Steven Mnuchin, but then Trump tweeted that his administration is under no pressure to make a deal and if they talk, they talk. Trump’s tweet downplayed the invitation and potential talks as being able to have a real impact.

There are also reports that Trump told aides to move forward with more tariffs against China.

The mixed messages have many in Beijing wondering if a deal is made whether it would even be honored.

Deal or no deal

U.K. Prime Minister Theresa May took a stance this weekend that her deal made with ministers at Chequers was the only option for Brexit, besides a no deal.

There is a lot of uncertainty around Brexit as the E.U. and U.K. hold two meetings this week to discuss their divorce. An informal E.U. summit on Thursday will be the E.U.’s chance to respond to the Chequers deal.

GBP/USD is on the rise despite the differing views on Brexit. The pair is near 1.314 Monday morning for the first time since early August.

Eurozone CPI holds up common currency

The euro is rising higher as the consumer price index for the region hit expectations and markets stay risk-on despite trade unknowns.

The EUR/USD pair has climbed up from 1.162 to 1.168 Monday morning. The CPI for the Eurozone for August hit 2% estimates, holding steady compared to July.

Members of the European Central Bank are speaking today ahead of President Mario Draghi’s speech Tuesday morning in Paris.

USD/CAD slips as NAFTA talks resume

After the U.S. and Mexico reached their own NAFTA replacement deal, there is pressure from Congress for an equivalent with Canada.

The new goal is to have a deal by Thursday that could be approved by the end of the month.

USD/CAD slid from 1.304 to 1.301 Monday morning as the U.S. dollar is on the back foot across the board.