US and China are said to be weighing tariff cuts on USD 30bln of imports, Reuters sources say; Presidents Trump and Xi are to discuss managed trade push in Beijing; US reportedly shifts its focus to numerical trade targets over model reform

The discussion of potential tariff cuts by the U.S. and China indicates a shift towards a more managed trade approach, which may ease tension between the two economies. This could have a positive impact on risk sentiment, affecting equities and commodities, while currency markets may also respond as trade relations stabilize. Keep an eye on how this influences market behavior and asset correlations, particularly in the FX space with major pairs like USD/EUR and USD/JPY.