Published at 05:03 (GMT) 20 Aug
Sydney Morning Herald: Clive Palmer's live television tirade could prove the last straw for worsening Australia-China relations, a Chinese state-owned newspaper has claimed, in an editorial that also calls for the country to impose sanctions against the Palmer United Party leader's businesses, and bar him from entering the country.
"China must let those prancing provocateurs know how much of a price they pay when they deliberately rile us," The Global Times said, in an editorial published in both its Chinese and English editions on Wednesday.
News.au.com: CLIVE Palmer has released a statement on his comments over those Chinese "mongrels", backtracking and almost apologising for the offence he caused almost 48-hours earlier. In the statement, Mr Palmer reiterated the point that his comments on ABC's Q & A program were "not directed at the Chinese community".
On FX, focus on the above, eye any impact on China-Australia relations and also the key trade relations. Australia government officials have also condemned the comments as well. AUD/USD at 0.9291-95, offers at 0.9310-20, bids at 0.9280-90, stoploss below 0.9275/0.9250.
AUD/JPY at 95.80-85, off the near 3-week highs. Offers at 96.00-10, bids at 95.40-50, stops below. Eye any reaction from China. USD/CNY at 6.1465. WL
Recommended Content
Editors’ Picks
EUR/USD stays slightly above 1.0700 after mixed US data
EUR/USD lost its traction and turned negative on the day but managed to hold above 1.0700. Although the upbeat Employment Cost Index data boosted the USD earlier in the day, the weak consumer sentiment reading limits the currency's gains.
GBP/USD declines toward 1.2500 on renewed USD strength
GBP/USD turned south and dropped toward 1.2500 in the second half of the day. The US Dollar stays resilient against its rivals following the strong wage inflation data and doesn't allow the pair to gain traction.
Gold extends daily slide toward $2,300 after US data
Gold stays under bearish pressure and declines toward $2,300 on Tuesday. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.6% after US Employment Cost Index data, weighing on XAU/USD.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Eurozone inflation stable as the outlook on prices gets increasingly muddied
Eurozone headline inflation remains stable at 2.4%. With higher energy prices and improving domestic demand, questions about the direction of inflation become louder.