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Analysts at  ANZ Bank New Zealand, (ANZ), explained that the solid US data helped boost risk sentiment.

Key Quotes:
“However, it was news that Mnuchin and Liu He  are  speaking again that sparked a bigger risk rally.”
“Markets took some relief on news that trade talks between the US and China could be back on the menu as the US gears up to impose tariffs on another $16b of Chinese imports – a move that will likely be met with an equal-sized retaliatory measure by China. Discussions between US Treasury officials and representatives of Vice Premier Liu He  are  said to be taking place, but with details lacking and both sides in gridlock.
“The S&P and DJIA were up 0.6% at the time of writing, led higher by industrials while technology shares were finding some stability.”
“Apple will report after the closing bell which may drive direction before the Fed  tomorrow. Long end Treasuries followed the JGB move overnight but pared gains on the firmer spending data.”
“The US 10-year yield dipped 1bp to 2.96%. The USD was mixed with CAD outperforming on strong GDP data. Higher iron ore prices boosted AUD and JPY underperformed. Oversupply concerns saw WTI dip 2%. Gold was up 0.3%.”