Forex Marketz Daily Forex News – Fully Markets Update
The Australian dollar was trading near a better than four month high price point during the holiday shortened Asian trade session on Tuesday.
Traders are optimistic about the trade talks between China and the United States despite tensions around Hong Kong and Taiwan. On the other hand, Brexit is starting to worry Forex traders as the United Kingdom is digging its heels in. Scotland is also signaling that they want a second referendum.
Against the U.S. dollar, the Australian dollar was up 0.12 percent to trade at 0.6925. This is within reach of the Australian currency’s December 13 high price point at 0.6939 and its highest price level since July. Over the last four trade sessions the AUD/USD is up over one percent.
Monday, China said that they would lower tariffs on products that include frozen pork and avocado to some types of semiconductors by January. China is trying to boost imports as their economy is slowing thanks to trade tensions with the United States.
The NZD/USD currency exchange rate was last trading below a five month high price point at 0.6625. Emerging market Forex units like the Indonesian rupiah and Russian ruble were also near multi-month high price points.
The U.S. dollar index was last trading at 97.6450. This is just below the high price point of 97.820 set on Monday.
The EUR/USD Forex market was flat trading at 1.1095 and the USD/JPY currency exchange rate was flat at 109.37 yen.
Forex Traders Monitor Brexit and U.S. – Sino Trade Talks as does the Australian Dollar
Trade talks between the U.S. and China continue. Headlines surrounding the status of the preliminary trade accord still lacking details. There are also increased political tensions between China and the United States that could derail trade talks. China is not pleased with the United States, as the U.S. is interfering with Hong Kong and Taiwan.
In recent trade commentary, the U.S. President says that China and the U.S. are very close to meeting and signing this “phase one” trade deal. Recent commentary out of China indicates that they willing to reduce tariffs on some goods.
