0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇮🇳 Inflation Rate YoY (JUL) due at 12:00 GMT (15min) Expected: 6.15% Previous: 6.09% https://www.dailyfx.com/economic-calendar#2020-08-13
  • UK Chief Negotiator Frost says our assessment is an agreement can be reached in September $GBP
  • Join @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for your weekly update on the world's most influential central banks. Register here: https://t.co/xCF8skC3Bz https://t.co/nV2YhbISnj
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/2MCG036HGH https://t.co/PHVjArXYww
  • Repatriation flows for $AUD? https://t.co/vOfFPvq1Ts
  • 🇮🇪 Inflation Rate YoY (JUL) Actual: -0.4% Previous: -0.4% https://www.dailyfx.com/economic-calendar#2020-08-13
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.21% US 500: -0.22% Germany 30: -0.27% France 40: -0.29% FTSE 100: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/pNdFxFzh7s
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here: https://t.co/7FV2JAxssO https://t.co/qLvzxkHY8p
  • Heads Up:🇮🇪 Inflation Rate YoY (JUL) due at 10:00 GMT (15min) Previous: -0.4% https://www.dailyfx.com/economic-calendar#2020-08-13
  • 🇨🇳 FDI (YTD) YoY (JUL) Actual: 0.5% Previous: -1.3% https://www.dailyfx.com/economic-calendar#2020-08-13
S&P 500 Drops as Trump Announces Partial Trade Deal

S&P 500 Drops as Trump Announces Partial Trade Deal

2019-10-11 19:40:00
Thomas Westwater, Contributor
Share:

US-China Trade Agreement Talking Points:

  • US and China reach partial deal as Trump announces the completion of phase-one of the trade agreement
  • Both sides gave concessions in a show of goodwill over the past two days of talks
  • The S&P 500 lost ground into the close as news of the deal crossed the wires, although the key index finished up 1.09% on the day

The US and China came to a partial agreement today after two days of talks between chief negotiators as President Trump announced phase one of a US-China trade deal is complete. President Trump commented that China’s President Xi and himself could sign a deal next month at Chile's APEC November 15-16. The markets have enthusiastically been pricing in hopes of a partial deal with the S&P 500 rallying nearly 2 percent this week before traders started to hit the sell button as news crossed the wires, with the key index settling at 2970.01 to finish the trading day.

S&P 500 (SPX) 30-Min Chart

S&P 500 30-Min Price Chart

Both sides made concessions during the latest 2-day round of trade talks including China agreeing to step up their purchases of US agriculture products and agreed to some measures on intellectual property, although no specifics on those measures were given immediately. The US in turn agreed to delay tariffs that were set to go into effect next week, but it was unclear if December tariffs were still set to go in place. This agreement marks the first substantial progress in trade talks that have been going on for 18 months now.

After market close Treasury Secretary Mnuchin stated that the US will review its labeling of China as a Currency manipulator. While Mnuchin also said that fundamental issues have been ironed out, Huawei China’s state-owned telecom giant is not part of the deal according to the Treasury Secretary.

--Written by Thomas Westwater, Intern Analyst for DailyFX.com

Contact and follow Thomas on Twitter @FxWestwater

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.