{"id":100555,"date":"2020-05-27T10:57:14","date_gmt":"2020-05-27T14:57:14","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100555"},"modified":"2020-05-27T10:59:04","modified_gmt":"2020-05-27T14:59:04","slug":"103290-aud-usd-aus-slumps-as-tensions-over-hong-kong-rise","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103290-aud-usd-aus-slumps-as-tensions-over-hong-kong-rise\/","title":{"rendered":"AUD\/USD: AUS$ Slumps As Tensions Over Hong Kong Rise"},"content":{"rendered":"<ul>\n<li><strong>Perceived riskier AUD drops 1% as risk tolerance falls<\/strong><\/li>\n<li><strong>US \u2013 Sino tensions rise over China\u2019s crackdown on freedom in Hong Kong<\/strong><\/li>\n<li><strong>US investors look ahead to slew of data tomorrow, including GDP &amp; jobless claims<\/strong><\/li>\n<li><strong>At 15:00 UTC, AUD\/USD is trading -1% at US$0.6583<\/strong><\/li>\n<\/ul>\n<p>The Australian Dollar is paring gains versus the US Dollar on Wednesday. The Australian Dollar US Dollar exchange rate surged 1.6% in the previous session, to settle at US$0.6652 as risk tolerance returned.<\/p>\n<p>However, the gains were short lived, at 15:00 UTC, AUD\/USD is trading -1% at US$0.6583. This is at the lower end of the daily traded range after falling from an almost 3 month high of US$0.6680 struck in the Asian session.<\/p>\n<p>The Australian Dollar performed a dramatic turnaround on Wednesday as worsening US \u2013 Sino relation weighed on demand for the perceived riskier Aussie Dollar, whilst boosting US Dollar safe haven demand.<\/p>\n<p>On Tuesday, President Trump said that he is preparing to take action against China for its efforts to impose a national security law on Hong Kong. Details on the action are expected by the end of the week. Sanctions on Chinese officials, businesses and financial institutions are expected in retaliation from the crackdown on civil liberties In the financial hub.<\/p>\n<p>The Chinese government have warned that they will retaliate with countermeasures against any US action. The threats come as protesters take to the streets in Hong Kong amid growing unrest not dissimilar to the protests at the end of last year.<\/p>\n<p>Vaccine optimism and economic recovery hopes, which drove the Australian Dollar higher on Tuesday, were being shrugged off by investors today overshadowed by US \u2013 China \u2013 Hong Kong developments. The Australian ASX closed lower and Wall Street is giving up earlier gains.<\/p>\n<p>Looking ahead there is no high impacting Australian economic data due to be released on Thursday. However a slew of US figures are set to be released including US durable goods figures and US initial jobless claims, in addition to US GDP data.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Perceived riskier AUD drops 1% as risk tolerance falls US \u2013 Sino tensions rise over China\u2019s crackdown on freedom in Hong Kong US investors look ahead to slew of data tomorrow, including GDP &amp; jobless claims At 15:00 UTC, AUD\/USD is trading -1% at US$0.6583 The Australian Dollar is paring gains versus the US Dollar [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1578,1541,1487,1397,1398],"class_list":{"0":"post-100555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-aussie-dollar","11":"tag-australian-dollar","12":"tag-hong-kong","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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