Governor of China's Xinjiang expresses strong condemnation of US bill

Dhwani Mehta FXStreet

Shohrat Zakir, the governor of the Chinese far western region, Xinjiang told reporters in Beijing on Monday that a recent US measure on Xinjiang is a severe violation of international law and gross interference in China's internal affairs.

Key Quotes:

Counter-terrorism measures in Xinjiang are no different to anti-terrorism measures in the US.

The US so-called bill has no regard for facts.

It has made groundless accusations against the human rights situation and the Chinese government.

Expresses strong condemnation of the US bill.

Any attempt to disable Xinjiang is doomed to fail.

The risk tone continues to remain tepid at the start of the week, as market digest the latest downbeat Chinese trade data, trade deal optimism while nervousness creeps in ahead of the UK elections, Fed and ECB rate decisions this week. USD/JPY trades flat around 108.60 while S&P 500 futures post small losses.

The US House has passed a bill demanding sanctions on senior Chinese officials - RTRS

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 looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.