Forex

Aussie stabilizes on renewed trade talk hopes

2019-11-07 21:29:39 GMT (Economies.com)

The Australian dollar held steady against the greenback today, as the markets optimism was renewed today after news about further progress in the US-China trade talks.

 

Bloomberg reported that the US and China have agreed to gradually eliminate the tariffs imposed on each other's goods.

 

China also urged the United States to remove the tariffs hike, set for December 15th.

 

The sources pointed out that a summit between President Trump and Chinese Leader Xi Jinping will take place in next few weeks to sign the first phase of the trade deal.

 

Otherwise, RBA Governor, Philip Lowe, said that interest rates will hold at current low levels until unemployment, inflation and the labor market improve.

 

AUD/USD held at 0.6885 as of 16:23 GMT, with an intraday high of 0.6912 and a low of 0.6861.

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