Chinese Govt officials ask major agricultural firms to pause purchases of US farm goods – Bloomberg
|Citing people familiar with the situation, Bloomberg reports that the Chinese government officials have told major state-run agricultural firms to pause purchases of some American farm goods, including soybeans, as Beijing evaluates the tensions with the US over the issue over the Hong Kong new security law.
The sources said: “Chinese buyers are also said to have canceled an unspecified number of US pork orders, although private companies have not been told to halt imports yet.”
Market reaction
The US dollar is seeing a bit of a bounce on the above report, which is seen souring the risk sentiment. The US dollar index recovers from 97.85 lows, now looking to regain the 98 handle.
The report could jeopardize the US-China phase one trade deal and therefore, there is a shift in the market mood, with the European stocks trading near daily lows.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.