China extends its anti-dumping investigation into Australian and Japanese chemical exports

Dhwani Mehta FXStreet

According to Reuters, China announced that it extended its anti-dumping investigation into the Australian and Japanese chemical exports.

Beijing is reported to extend the probe further into the exports from South Korea and Malaysia through to November 30 this year.

This comes in the face of the rife tensions between the US and China over the issue of Hong Kong’s autonomy after the latter approved the National Security Bill for Hong Kong on Thursday.

Market reaction

The risk-off extends into mid-Asia, with the regional equity indices downed along with the US equity futures and risk currencies.

AUD/USD trades listless below 0.6650 while USD/JPY drops 0.20% to 107.40, as markets await US President Donald’s Trump response to the Hong Kong situation.

US Pres. Trump to hold China news conference on Friday, risk-off themes will be in play

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 falls to near 1.1600 due to persistent bearish bias

EUR/USD depreciates after registering modest gains in the previous session, trading around 1.1610 during the Asian hours on Thursday. The technical analysis of the daily chart suggests a persistent bearish bias as the EUR/USD pair remains within the descending channel pattern.

GBP/USD underperforms as UK faces stagflation risks amid Middle East war

The Pound Sterling trades lower against its major currency peers, is down 0.22% around 1.3340 against the US Dollar, during the Asian trade on Thursday. The British currency faces selling pressures amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, a situation in which inflation accelerates with economic growth and employment conditions remaining stagnant.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Top Crypto Gainers: Decred, Zcash, and Dogecoin lead recovery as Bitcoin crosses $72,000

Bitcoin trades above $72,500 at press time on Thursday, holding its 6% gain from the previous day, contributing to a broader market recovery. The total cryptocurrency market capitalization stands at over $2.43 trillion as the broader market sentiment improves significantly.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.