MARKETS will refocus on trade this week, as the long-awaited phase one trade deal between the US and China is expected to be signed in Washington on Wednesday.

While details of the partial deal are scant, a successful signing will be a boost to both economies, said Toby Wu, senior analyst at trading platform eToro.

It would also be a welcome bit of positive news amid other concerns that have been plaguing investors. At the end of last week, markets appeared to have largely moved past the US-Iran conflict, although Iran's admission over the weekend to having "unintentionally" shot down a Ukrainian passenger jet could cause tensions to flare up again. The country had previously denied any involvement in the crash.