US State Department eases China travel advisory for Americans

Anil Panchal FXStreet

Amid the on-going Sino-American tussle, the Trump administration silently eased stance towards China and Hong Kong. This comes after the “US State Department said on Monday it had eased a travel advisory for Americans considering travel to China or Hong Kong from ‘Do Not Travel’ to ‘Reconsider Travel.’, as per Reuters.

Key quotes

The State Department cited COVID-19 and arbitrary enforcement of local laws in issuing the ‘Reconsider Travel’ warning, but also said China has ‘improved conditions.’

The department in June had issued its highest ‘Do Not Travel’ Level 4 warning but announced Monday it was lowering it to ‘Level 3.’

FX implications

Amid the currently risk-on market mood, as portrayed by 0.10% gains of the S&P 500 Futures, news like this adds to the optimism. However, a heavy calendar keeps the traders cautious and hence the AUD/USD prices remain subdued near 0.7300.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.