S&P 500: Futures regain 3,350 as China says its been consistent on trade deal
|In a daily briefing on Wednesday, China’s Foreign Ministry said that Beijing has been 'consistent' on the trade deal with the US.
Additional comments
“No comments on further trade specifics.”
“Reaffirms that US' TikTok ban has nothing to do with national security.”
“Position on US sanctions is clear and consistent.”
“The US sanctions are irrational, groundless.”
“Reiterates opposition towards ties between US and Taiwan.”
Market reaction
Hopes of more stimulus combined with vaccine progress underpin the broad market sentiment in the European session this Wednesday.
The resurgence in the risk-on flows has dented the haven demand for the US dollar, lifting the riskier assets such as US stock futures, AUD/USD etc. Traders seem to digest the latest comments from the Chinse Foreign Ministry.
AUD/USD looks to extend the bounce near 0.7130 while S&P 500 futures regain 3,350, up 0.70% on the day.
Gold staged a sharp recovery on dollar weakness, regaining ground above $1900.
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