💱Antipodes Lag Despite U.S.-China Trade Headlines: Cable FX Macro
- Rosbel Durán
- Jun 11
- 1 min read
Markets may be lacking details on the recent U.S.-China trade talk headlines. *TRUMP: XI,I TO WORK CLOSELY TOGETHER TO OPEN CHINA TO US TRADE, this is positive and follows a series of hawkish statements earlier in the year.
Despite the fact, AUD and NZD are down on the day, Wednesday session sees antipodes lagging the rest of the G10. Perhaps, the tone is set by the fact that tariffs on China will not change, as reported by CNBC's earlier interview with U.S. Commerce Sec. Lutnick
Options markets show interest for higher AUD/USD. The losses seen today can come as puzzling as the broad dollar index is down too, risk is up, and volatility is down.
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