China approves tariff-free soybean purchases from US

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According to the latest headlines crossing the newswires, China has approved tariff-free soybean purchases from the United States as goodwill.

This development ahead of Monday’s trade negotiations in Beijing between US Treasury Secretary Mnuchin, Trade Representative Lighthizer and Chinese Vice-Premier Liu could provide a boost to Wall Street in the second half of the day and weigh on safe-haven assets such as gold and the JPY.

Meanwhile, although the S&P 500 Futures is pulling away from daily lows on these headlines, it’s still down 0.22% on the day.

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