Breaking: US and China make no progress on key trade issues in two days of deputy-level talks - SCMP Sources

South China Morning Post sources have come with a piece that has sent the Yen on a hike across the board, advancing some 30 pips vs the greenback, say  |  09/10/2019 22:27
  • Chinese delegation refuses to talk about forced technology transfers - High-level talks are expected to last for only one day,
  • Trade talks are doomed to fail from the get-go.
  • AUD/JPY is down 0.30% on the soured sentiment. 

South China Morning Post sources have come with a piece that has sent the Yen on a hike across the board, advancing some 30 pips vs the greenback, saying:

  • US and China make no progress on key trade issues in two days of deputy-level talks, sources say.
  • The Chinese delegation refuses to talk about forced technology transfers, a core US grievance in the negotiations, a person with knowledge of the meetings says.
  • High-level talks are expected to last for only one day, with Liu He and his team now planning to leave Washington on Thursday.

Overnight,  US stocks were elevated on a report from Bloomberg News that had suggested China was open to a limited tariff resolution with the U.S. Also, the Financial Times indicated that China had offered to increase by 50% purchases of agricultural products from U.S. farmers.

However, as ever, the headlines were conflicting with a late statement from China poured cold water over such optimism and said that the US had damaged any goodwill following the blacklisting of Chinese companies by the US State Department the prior day, announcing that Beijing has little hopes of a trade deal breakthrough this week - and seems we have confirmation now that these trade talks are doomed to fail from the get-go and its back to risk-off. AUD/JPY is down 0.30% on the soured sentiment. 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com