Trump is said to ask Cabinet to draft possible China trade deal

Author: Justin Low | Category: News

According to Bloomberg

This comes after Trump spoke to Xi on the phone overnight as they are set to meet in Argentina at the G-20 Summit. The headline here is giving an added boost to risk as yen pairs are surging higher. USD/JPY is now making fresh highs of 112.90 on the day.

There's been good rhetoric surrounding a trade resolution between US and China since yesterday and this is very much the cherry on top of that. Although I reckon this could all still be a ruse ahead of the midterms next week, but we'll see.

These were the headlines from overnight:

Regardless, this will no doubt give a lift to equities and stocks and that is exactly what Trump wants ahead of next week's elections.

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