U.S. Futures Drop, Yuan Dips as Trade Talks Loom: Markets Wrap

U.S. Futures Drop, Yuan Dips as Trade Talks Loom: Markets Wrap

U.S. Futures Drop, Yuan Dips as Trade Talks Loom: Markets Wrap

Meeting with U.S. visitors to Beijing in recent weeks, senior Chinese officials have reportedly narrowed the range of topics they're willing to discuss, according to people familiar with the discussions.

As trade negotiators prepare for this week, tensions have also grown after reports revealed that Trump officials were weighing some curbs on US investments in China, including possibly blocking all USA financial investments in Chinese companies.

The yen was at 106.88 per dollar, up 0.1%. There was no onshore trading as Monday is the last day of China's long holiday break for its national day.

The offshore yuan fell 0.2% to 7.1275 per dollar. US and Chinese negotiators are scheduled to hold trade talks in Washington this week.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

Trump officials, including White House economic adviser Larry Kudlow, have repeatedly said that they would not accept anything short of an all-encompassing deal.

The jitters knocked the dollar from a two-year high last week, and it remained subdued on Monday.

Following a slew of disappointing economic data across the globe last week, investor focus returns to trade with the spat between the US and China seen as the main impediment to global growth.

- U.S. releases September inflation data.

"The odds remain low for a trade deal", analysts at DBS Bank in Singapore said in an emailed note.

The Brexit impasse continues as U.K. Prime Minister Boris Johnson looks to secure a deal with time running out.

As the dollar has lost momentum, the euro stood at $1.0979, up 0.03% in Asia, recovering little by little after having hit a near 2-1/2-year low of $1.0879 last Tuesday.

Sterling traded little changed at $1.2336, with uncertainties on Brexit keeping many investors on the sideline.

With less than a month until the UK's scheduled exit on October 31, British Prime Minister Boris Johnson is seeking significant changes to how the most contentious issue - the border between British-ruled Northern Ireland and European Union member Ireland - was dealt with in the divorce deal agreed by his predecessor, Theresa May, nearly a year ago.

The European Union and Ireland said last week that the proposals were unlikely to yield a deal.

Related news

[an error occurred while processing the directive]