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