The Australian dollar jumped by 0.71 percent after reports said that US Treasury Secretary Mnuchin is planning to meet with China in two weeks. Trade war tensions have been pressuring China’s commercial partners as the Asian giant sought to bring in the WTO into the conflict.
The Aussie bounced back from a 29 month low as a potential de-escalation of the two largest economies trading tariffs. Although it is too early to anticipate a positive outcome of the yet to be scheduled talks, at this stage a show of goodwill is giving the currency some breathing room.
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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