Australia keen on penning RCEP trade pact this year despite disputes with China – SCMP


According to a story carried by the South China Morning Post (SCMP), Australian Treasurer Josh Frydenberg said that the souring diplomatic relationship with China will not impede the progress of the Regional Comprehensive Economic Partnership (RCEP).

“Australia would continue to advocate behind closed doors for a deal that is in its interests,” Frydenberg said last week.

Separately, the Australian Department of Foreign Affairs and Trade also said last Wednesday that there was no change in Australia’s commitment to sign the RCEP.

Market reaction

The above headlines seem to be ignored by the AUD bulls, as AUD/USD holds the higher ground amid the upbeat market mood.

At the press time, AUD/USD trades with 0.32% gains around the 0.6970 region.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD remains sub-1.2100 after upbeat US data

US Producer Prices rose by more than anticipated, while unemployment claims shrank by more than anticipated. EUR/USD keeps trading below 1.2100 as investors eye firmer government bond yields.

EUR/USD News

GBP/USD under pressure below 1.4050 amid renewed USD demand

GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.

GBP/USD News

XAU/USD bounces off weekly lows, lacks follow-through buying

Gold consolidates the heaviest losses in six weeks, fades consolidative bounce of late. Market’s struggle for clear direction after US CPI challenged Fed, US stimulus. Wall Street benchmarks dropped over 2.0%, down for third day, but S&P 500 Futures prints 0.10% gains afterward.

Gold News

Nightmares repeat as BTC flash crashes

The recent Bitcoin price crash seen on Wednesday is comparable to the one in late April. However, unlike the last time, this drop was not due to rumors of new tax proposals. 

Read more

S&P 500 Nasdaq: PPI confirms the CPI, Fed is in bed as inflation means red

Wednesday's wake-up call to the dovish Fed was repeated with the release of PPI on Thursday. Core CPI was 0.7% versus forecasts for 0.4%. Now is buy the dip still in focus and is don't fight the Fed still the trade? 

Read more

Forex MAJORS

Cryptocurrencies

Signatures