US equity futures pare earlier gains and the dollar falls slightly
The report here is having quite a bit of reaction in markets as it is provoking the question of "is Trump willing to give up some ground in hopes of getting China back to the negotiating table?". It is said that China wants the US to lift the ban on Huawei (which Trump has said he is open to do) and remove all punitive tariffs imposed (which Trump has been firm in the past that he is not willing to do).
And all of this is just to inspire some act of good faith so that China will come back to work towards achieving a trade deal again. Mind you, this still doesn't resolve the differences that prevented a deal from being struck back in May.
The dollar has slipped a little with cable rising to 1.2720 before backing off slightly after challenging the 100-hour moving average, with USD/JPY also slipping to 107.80 now.
Meanwhile, we're seeing stocks pare their earlier advance with European equities in the red now as US futures pare gains for the day. It's getting spicy as we count down towards the G20 meeting and let's see if Trump has anything to say/tweet later today.
