Sources: China offers to buy extra 10 million tonnes of US agri goods to ease trade war - FT

Dhwani Mehta FXStreet

According to the Financial Times (FT), people with the knowledge on the two countries’ ongoing negotiation, said that Chinese officials have offered to increase purchases of US agricultural products by 10 million tonnes a year amid a reset ahead of Thursday’s Washington talks between the two team and a new round of tariff hikes that takes effect from October 15^th.

Said one of the sources: “Liu He is coming with real offers, it’s not an empty visit. The Chinese are ready to de-escalate.”

A second source added: “China has fundamentally agreed to all of the USDA’s demands on beef, pork and lamb. They’ve got about 60 internal changes to their [import] process that they’ve agreed to. They’re taking great note of how [Trump’s] new Japan [trade] deal. . . led with agriculture and they are pushing in that same direction.”

The market is liking the Chinese efforts to reach an interim trade deal with the US, with the risk sentiment boosted and S&P 500 futures up 1%. The US Treasury yields are also gaining the upside traction, keeping USD/JPY underpinned around 107.35 region.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.

EUR/USD advances ahead of ECB policy decision

EUR/USD extends its gains for the second consecutive day, trading around 1.1410 during the Asian hours on Thursday. The pair gains ground as the Euro finds solid support ahead of the European Central Bank's upcoming interest rate decision.

Gold is at a critical juncture as Middle East conflict widens

Gold snaps a four-day recovery early Thursday as widening Mideast conflict-led rallying Oil prices spur inflation fears. The US Dollar stays defensive amid potential USD/JPY sell-off, as ‘Yenternvention’ risks loom. Gold at a crossroads, awaiting Bear Cross confirmation on the daily chart, as RSI flirts with 50.

Australia unemployment rate set to steady at 4.4% in June, signaling strong job market

Australia will publish the June monthly employment report on Thursday at 01:30 GMT, and market participants expect a modest increase in job creation in the land Down Under. The Australian Bureau of Statistics is expected to announce that the country added 15K new jobs in the month, while the Unemployment Rate is forecast at 4.4%, unchanged from May.

Ripple and Stellar await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.