Breaking: Trump-Xi meeting to sign trade deal could be delayed until December

Eren Sengezer FXStreet

Citing a senior Trump administration official, Reuters on Wednesday reported that the meeting between US President Trump and his Chinese Counterpart Xi could be delayed until December as discussions continue over terms and venue.

"It's still possible the US-China trade pact will not be reached, but a deal is more likely than not," the official told Reuters. "China's push for more tariff rollbacks is not seen derailing progress toward a trade deal."

With the initial reaction, Wall Street's main indexes turned south and the 10-year US Treasury bond yield continued to push lower to reflect the negative impact of these comments on the market sentiment. The safe-haven JPY also seems to be capitalizing on the dismal market mood with the USD/JPY pair losing 30 pips in the last minutes and slumping to 108.80 area.

As of writing, the Dow Jones Industrial Average and the S&P 500 were both down 0.25% on the day while the Nasdaq Composite was earning 0.55%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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