Aussie Mildly Higher on News About US-China Trade Negotiations

The Australian dollar traded mildly higher today as the market sentiment improved slightly on positive news about US-China trade talks.
US Treasury Secretary Steven Mnuchin announced yesterday that he and US Trade Representative Robert Lighthizer will meet with Chinese Vice Premier Liu He in two weeks. He said in an interview:

It’s actually, I think, it’s not next week, but the following week we’ll be having those talks.

Previously, market participants were worried that the cancelation of a Chinese delegation’s trip to US farming states was a sign that US-China trade negotiations are falling apart. The positive news eased such concerns.
AUD/USD inched up from 0.6773 to 0.6778 as of 8:29 GMT today. EUR/AUD slipped from 1.6226 to 1.6211.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *