The US President Trump is out on the wires now, via Reuters, noting that China called the US negotiators last night and said that they want to come back to the negotiating table.
Trump spoke at day 3 of the G7 Summit in France.
Further Comments:
This is a very positive development for the world.
We will have a further statement on China.
Confident to reach a deal with China.
We have had two calls with China, they want to make a trade deal.
We will start negotiations shortly.
I think we will make a deal.
China doesn't want to lose its supply chains.
We are going to start talking very seriously with China.
China’ Xi is a great leader, welcomes his desire for a deal and for calm.
A major turnaround in the risk sentiment is seen on the above headlines that are likely to de-escalate the US-China trade tensions. Risk trades are back in vogue, with USD/JPY bouncing back towards 106 handle. The Aussie regains the 0.6750 level while the S&P 500 futures erased gains and turned positive, now trading around 2,860 region.
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