Australian Foreign Minister Payne: No intention of hurting relationship with China

Dhwani Mehta FXStreet

After the US and Australia held high-level talks on China, the Australian Foreign Minister Marise Payne came out on the wires, via Reuters, noting that they have has no intention of hurting thier relationship with China.

Additional quotes

“Agreed on the need to uphold a rules-based global order.”

“United States and Australia shared a commitment to the rule of law and had reiterated their commitment to hold countries to account for breaches, such as China's erosion of freedoms in Hong Kong.”

“But Australia did not agree on everything with Beijing - or with the United States.”

"The relationship that we have with China is important. And we have no intention of injuring it"

"But nor do we intend to do things that are contrary to our interests."

Market reaction

The market mood remains fragile amid growing coronavirus-led economic concerns and mixed Asian equities. Therefore, the upside in the AUD/USD pair remains capped below Monday’s low.

Markets also weigh in the mixed Australian quarterly inflation data. At the press time, AUD/USD trades 0.13% highs near 0.7165 while S&P 500 futures hold steady around 3215.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.