Indeed, the last hour of enjoying E-mini S&P500 futures has been a wild flight. There have been two spikes in futures, one at 5: 10 am est. or so, when a heading hit detailing how Beijing “may be open” to a “partial” US trade deal.
Then, the next spike, at 5: 47 am est. was a 20 point, 71 bps appear 35 seconds, algos went into panic purchasing after the Financial Times reported Chinese officials provided “to increase yearly purchases of United States agricultural products by $10 bn a year.”
China’s lead trade mediator, Vice Premier Liu He, will meet US Trade Agent Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday to hash out a possible lite trade deal, and if all goes well, a potential conference with President Trump might be seen on Friday.
” Liu He is featuring real deals, it’s not an empty check out,” said one of the individuals briefed on the talks. “The Chinese are prepared to de-escalate.”
And all of these headings are occurring as E-Mini S&P500 futures struggle to remain above the daily 200 ema.
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