According to a US administration official, talks between Chinese President Xi Jinping and US President Joe Biden on Friday, which lasted for nearly two hours, were direct, substantive and detailed, reported Reuters. Biden reportedly stressed to Xi that China providing material support to Russia would have consequences not just from the US but also from the wider world. Xi raised the issue of Taiwan and Biden reiterated the US position.
Biden reportedly laid out in detail to Xi the unified response from governments and the private sector around the world being taken against Russia for its invasion. Biden did not make any specific requests of China, but laid out his view of the situation. Biden was candid and direct with Xi in discussing his assessment of the situation in Ukraine, the US official said, and expressed rock-solid support for Taiwan and the intention to continue providing this rock-solid support.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
USD/JPY extends recovery toward 148.00, BoJ in spotlight
USD/JPY is extending recovery toward 148.00 early Friday as bulls stay motivated ahead of the key Bank of Japan (BoJ) interest rate decision. The BoJ is unlikely to adjust its policy settings. The policy guidance, however, will hold the key for the next direction of the pair.
AUD/USD eases to 0.6400 amid mixed Australian PMIs, firmer USD
AUD/USD is trading close to 0.6400, on the defensive in the Asian trading on Friday. The Aussie remains weighed down by the Fed's hawkish stance-led sustained US Dollar strength and mixed Australian PMI readings. Focus on US PMIs.
Gold recovers its losses above $1,910, eyes on US PMI data
Gold price recovers some lost ground around $1,920 amid the USD demand. Hawkish comments from Federal Reserve (Fed) Chair Powell drags XAU/USD price lower. Investors will closely watch the preliminary US S&P Global/CIPS PMI data.
Space ID price succumbs to selling pressure with $3.54 million worth of ID tokens unlocked in a cliff event
Space ID price remains bullish based on the Parabolic SAR price-tracking indicator, which continues to track ID price from below. However, the token is trading at a value that is significantly lower than its rate 24 hours ago, an outcome attributed to its scheduled token unlocks event.
Takeaways into the end of the week
As we head into Friday, there are two important takeaways from developments this week. The first is that higher for longer Fed policy is something investors need to consider more seriously.