US and China reached a partial trade deal - Bloomberg

Eren Sengezer FXStreet

Citing sources familiar with talks, Bloomberg on Friday reported that the United States (US) and China have reached a partial trade deal. Although there is no official confirmation of this development, the market seems to be reacting positively. "As part of the agreement with the US, China will agree to some agricultural concessions and the US will provide some tariff relief," Bloomberg added.

Wall Street's main indexes gained traction in the last minutes and the Nasdaq Composite was last up 1.8% while the Dow Jones Industrial Average and the S&P 500 were adding 1.4%. Furthermore, the 10-year US Treasury bond yield was adding 4.6%.

Markets are now waiting for the US Treasury Secretary Mnuchin's press conference at 17:45 GMT.

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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