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According to Edward Lawrence, a correspondent for Fox News, the Chinese Commerce Ministry said that China is ready to do a deal on the parts of the negotiations both sides agree upon.  

With the initial reaction, the safe-haven assets such as the JPY and gold came under strong selling pressure to suggest risk-on flows are now dominating the markets.

As of writing, the USD/JPY pair was up 0.45% on the day at 107.40 while the XAU/USD pair was down 0.85% at $1,492.

“The Chinese Commerce Ministry tells us China is ready to do a deal on the parts of the negotiations both sides agree upon. The Ministry tells us they are prepared to set out a timetable for the harder issues to be worked out next year,” Lawrence tweeted out.