Bloomberg quotes people familiar with the US-China trade talks, as saying that “the US and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang,”
Sources said: Trump's downplaying of a deal yesterday should not be understood to mean that talks are stalling as he was "speaking off the cuff".
“The US expects a deal to be completed before the 15 December tariffs are to be enacted with outstanding issues at present being how to guarantee agricultural purchases by China and exactly which tariffs the US roll back”, they added.
The above trade-positive news triggered a significant turnaround in the risk sentiment, driving USD/JPY nearly 30-pips higher to session highs of 108.76. S&P 500 futures also jumped on the headlines, now posting +0.45% gains near 3,100 levels.
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.