Weaker risk sentiment pulls the AUD to its lowest levels since January
AUD/USD continues to move within the downward channel.
Evergreen buck goes down amid US-China trade negotiations
On Tuesday, the evergreen buck declined on reports that America and China are moving to the next stage of their trade negotiations.
Besides this, the UK currency remained near its 20-month low versus the greenback after British Prime Minister Theresa May dared to call off Tuesday’s vote on her Brexit agreement, so she could return to Brussels to ask for changes to this stuff.
The move applied pressure to the UK currency because financial markets judged the risk of no-deal Brexit has surged.
As a matter of fact, the USD index tumbled by 0.1% showing 97.058 after Reuters informed that US Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer along with Chinese Vice Premier Liu He had a telephone conversation, discussing the roadmap for the next stage of their trade negotiations.
The conversation shoed up after American leader Donald Trump and his Chinese counterpart Xi Jinping made up their mind to suspend the planned increase of January 1 American levies from 10% to 25% on $200 billion of China’s products.
Nevertheless, the tension between the two leading economies was still high especially after the detaining of CFO at China’s Huawei Technologies the previous week.
The currency pair USD/CNY dived by 0.2% ending up with 6.9033 because the People's Bank of China set the Yuan reference rate at 6.8996 against yesterday’s settlement of 6.9099.
Besides this, the Indian rupee bounced off after the country’s key financial institution sold the American dollars via the state-run banks for the Rupee at about 72.35.
Reuters also informed that Urjit Patel, Reserve Bank of India Governor resigned suddenly on Monday following a months-long tussle over policy with the cabinet.
The currency pair USD/JPY went down by 0.3% trading at 113.03.
Moreover, AUD/USD and NZD/USD both headed north by 0.2%.
Similar
Evergreen buck goes up
On Wednesday, the evergreen buck jumped, backed by comments from senior Fed officials playing down the probability of interest rate cuts, and also by a fresh round of safe-haven buying on geopolitical tensions…
Chinese Yuan is intact
On Wednesday, the Chinese yuan and the evergreen buck were nearly intact in Asia because market participants waited for further news on the China-US trade front…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
