Washington and Beijing are crafting a deal to avert the next round of US tariffs on $300 billion worth of Chinese goods,."The truce cake seems to have been baked," one source told the newspaper.
The news lifted traders' hopes that President Donald Trump and Chinese counterpart Xi Jinping can reach an agreement to de-escalate the trade war when they meet on Saturday during the G-20 summit in Osaka, Japan. "The fact that the United States and China have agreed to a tentative tariff truce ahead of the G-20 meeting does suggest that there is still some light at the end of the trade war tunnel," said Lukman Otunuga, research analyst at FXTM.
The promise of a pact reassured traders after Trump discussed raising tariffs on $250 billion of Chinese goods from 25% to 35%."My plan B with China is to take in billions and billions of dollars a month and we'll do less and less business with them." "The sentiment in the markets is turning bullish as investors are hoping from some sort of meaningful development over the weekend," said Konstantinos Anthis, head of research at ADSS."We'd rather be a bit more cautious ahead of the G-20 meeting as the odds for a material breakthrough are quite low."
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Stay calm...cool...and collected! Let the traders around like chickens. Hoard cash to go after those quick arbitrage opportunities...but for the most part...keep an eye on gems...and wait! The bubble will burst! And then we go in!
More like moth attracted to fire.
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