US-China Trade Talks Said To Be Back On; Dow Soars, Gold Slumps
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US Dollar Jumps, Markets Turn Risk-On
- US-China additional tariff put back as two sides are expected to talk soon.
- S&P, Dow Jones soar while risk-off assets including Japanese Yen and Gold slump.
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Markets Turn Risk-On as US-China Talks Said to Near.
According to various tweets, the US has delayed implementing an additional 10% tariff on $300 billion of Chinese goods, from September 1 until December 15, and both sides will talk over the next two weeks, probably by phone.
While the news is not yet official - at the time of writing - financial markets have made a huge U-turn with markets now firmly risk-on. The Dow Jones is up by in excess of 500 points, the Nasdaq is up 200 points while gold has slumped by over $30/oz. to $1,498/oz. while USDJPY has soared to 106.70 after having traded around 105.10 early in the session.
USDJPY Daily Price Chart (November 2018 – August 13, 2019)
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