WH Adviser Kudlow: US-China to the short strokes on a Phase 1 deal

Dhwani Mehta FXStreet

Additional headlines are now crossing the wires, via Reuters, citing the White House Economic Adviser Kudlow, as he reiterates that the US and China are to the short strokes on a Phase 1 deal.

Last hour, Kudlow said “We're getting close” to trade deal with China that boosted the risk-on trades across Asia.

Meanwhile, the Fox Business News correspondent Lawrence tweeted out: “Chinese trade sources tell us that there will be a primary level phone call between the US and Chinese trade delegations on Friday to try and finish getting a Phase One deal with China on paper. This call follows deputy level calls today which US trade sources confirmed.”

Markets are rejoicing the latest trade optimism that makes a trade deal more likely than before. USD/JPY extends recovery to near 108.60, the Aussie looks to regain the 0.68 handle while Treasury yields rebound nearly 1% and Asian stocks are mostly 0.50+% higher.

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.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.