Dow Jones Surges, Yuan Spikes As China Confirms Trade Deal With US

CHART OF DOW JONES INDEX PRICE CHART: 1-HOUR TIME FRAME (NOVEMBER 26, 2019 TO DECEMBER 13, 2019)

Dow Jones Price Chart Spikes as China Confirms Trade Deal with US

Chart created by @RichDvorakFX with TradingView

The Dow Jones Index spiked back above the 28,000 price level after China confirmed that Sino-American negotiators have ‘achieved major progress’ in trade talks and have reached an agreement on text for a phase one trade deal originally announced mid-October.

CHART OF CHINESE YUAN – SPOT USD/CNH: 1-MINUTE TIME FRAME (DECEMBER 13, 2019 INTRADAY)

(Click on image to enlarge)

Chinese Yuan Price Chart USDCNH Drops on Tariff Rollback Trade Deal

Spot USD/CNH took a nosedive as the news crossed the market’s wires and reflects the strengthening of the Chinese Yuan. The Chinese Yuan has weakened significantly this year to offset tariffs levied by President Trump on Chinese exports to the US.

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