Xi marks the spot

Chinese stocks hit 11-year highs and the yuan reaches a three-year peak against the dollar ahead of a Trump-Xi summit later this week, with above-forecast export growth and China's highest producer price inflation in more than three years potentially strengthening Beijing's hand at the table. Oil climbs back above $104 a barrel after Trump called Iran's response to U.S. peace proposals "totally unacceptable." Today’s recommended read: Hormuz closure extends well beyond oil to threaten Chinese EVs, Clyde Russell Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Read more from Amanda Cooper and Anna Szymanski Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices