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The yen weakened and the Australian dollar rose after reports of a phone call between Trump and Xi eased US-China trade tensions. Bloomberg reported Trump had asked officials to begin drafting a possible trade deal with China.
The dollar was up 0.3% at 113.03 yen ahead of the US jobs report.
Easing US-China trade tensions raises hopes for resumed US soybean and grain sales to China, which supports the outlook for US oilseed and grain prices. The move is a sentiment signal rather than a confirmed purchase or tariff change.
thehindubusinessline.comReutersNov 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.
Not enough comparable past events yet for a historical read.
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.
