Markets keep a little more optimistic ahead of US-China trade deal signing
Japanese markets may be closed but there are some decent flows in markets today going into European morning trade. Notably, risk is looking a tad more buoyant with S&P 500 futures up 0.3% while we're seeing yen pairs keep slightly higher on the day too.
The aussie and kiwi are also posting mild gains while in the commodities space, gold is down by 0.4% at the moment as we look to get things going in the session ahead.
The main focus in markets this week will be the US-China trade deal signing, although I would argue that the event is pretty much fully priced in. The thing to watch out for will be the details of the deal and how the US and China interprets it.
One of the key spots in that regard will be how much US agricultural purchases is China committing towards over the next few years. The US camp still maintains that it is $40 billion to $50 billion per year, but China continues to keep mum over the figure.
For now, we can look forward to the deal signing in Washington but what happens next, we can only wait and see once the details are disclosed.
