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China and the United States agreed to halt additional tariffs, preventing a further escalation of their trade war. The two sides will hold fresh talks aimed at a deal within 90 days.
Asian currencies, including the Australian dollar, rose on the news.
Halting new tariffs keeps Chinese demand for US and Australian farm exports on track and lifts risk sentiment that supports commodity prices. The 90-day window adds uncertainty about whether tariffs return.
reuters.comWayne ColeDec 2, 2018After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
After 81 past trade events, Chinese Yuan (CNY per USD) moved a median +0.1% over 5 sessions (58% higher; middle half -0.3% to +0.6%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
