S&P 500 futures flat as markets await US-China trade negotiations

S&P 500 futures remain unchanged at 5,450 points as investors adopt a cautious stance ahead of crucial US-China trade talks scheduled for this week. Market participants are particularly focused on potential tariff adjustments and trade balance discussions that could significantly impact global risk sentiment and currency flows. The muted equity futures suggest traders are unwilling to take substantial positions before clarity emerges on trade relations between the world's two largest economies. Currency markets reflect this uncertainty, with USD/CNH trading in a tight 7.2500-7.2700 range. EUR/USD holds steady near 1.0850, while GBP/USD consolidates around 1.2650. Risk-sensitive currencies like AUD/USD and NZD/USD show limited movement. Any breakthrough in negotiations could trigger significant volatility across forex pairs, particularly those with exposure to Asian trade flows.