Futures, Yuan Jump After Trump Trade Comments

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It seems the algos will never learn.

US equity futures and offshore yuan are both rising after President Trump said at an event at The White House that “he feels China talks will be successful,” adding that “we will know in 3-4 weeks.”

Johnny 5 loves that news…

Up 120 so far…

And Yuan’s move was higher beta…

Bloomberg’s Jim Jia notes that Xinhua, in a commentary released about two hours ago on China’s Twitter-like Weibo service, said it’s normal for two sides in a negotiation to have different views, and for terms to change before a final agreement is signed. Xinhua said the U.S. frequently accuses China of backtracking, but it was irresponsible rhetoric and pressure from the U.S. that has hindered the bilateral economic and trade talks.

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On a side-note, Bitcoin ‘flash-crashed’ this evening…

But is bouncing back hard as China opens.

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