After President Trump spent several weeks creating an economic narrative of an imminent trade deal will be signed with China on November 17 at the Asia-Pacific Economic Cooperation (Apec) summit in Santiago, Chile, all to pump the stock market to record highs, there are new headlines from a US Administration official that specify a trade deal might not be signed in the coming weeks. 

• EXCLUSIVE-US-CHINA 'PHASE ONE' TRADE AGREEMENT MAY NOT BE SIGNED AT CHILE APEC MEETING IN NOVEMBER, BUT PROGRESS IS BEING MADE -U.S. ADMINISTRATION OFFICIAL
• IF A DEAL IS NOT SIGNED IN CHILE, THAT DOES NOT MEAN US-CHINA TALKS HAVE FALLEN APART, JUST THAT MORE TIME IS NEEDED -U.S. ADMINISTRATION OFFICIAL IF A DEAL IS NOT SIGNED IN CHILE, THAT DOES NOT MEAN US-CHINA TALKS HAVE FALLEN APART, JUST THAT MORE TIME IS NEEDED -U.S. ADMINISTRATION OFFICIAL 

Initial reports of a trade deal possibly falling apart before the Apec meeting slammed E-Mini Dow Futures lower.

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Offshore Yuan strengthened to 7.064 level. 

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Market-Implied Odds of a US-China Trade Deal turn lower on the news. It seems that "trade optimism" sparked by weeks of President Trump tweeting about an immient trade deal are finally starting to fade. 

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