While the trade and political tussle between Australia and China challenge the commodity bulls, CNBC came out with the news suggesting further hardships for Antipodeans given Beijing’s dominance in the commodity market. The news piece cites the recently conveyed, between November 12 and December 11, China Beige Book survey to expect sharp drops in sales growth for luxury goods, food and apparel compared to the prior quarter. The report also mentioned, “After about a year since Covid-19 first emerged in the Chinese city of Wuhan, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, profitability and hiring to return to 2019 levels until at least three months from now.” FX implications AUD/USD eases from the intraday high following the news. However, overall optimism backed by the US coronavirus (COVID-19) stimulus headlines keeps the prices up 0.14% intraday to 0.7588 by press time of early Tuesday. Read: AUD/USD: Buyers keep June 2018 top on radar amid US aid package news FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next PBOC sets yuan reference rate at 6.5451 FX Street 2 years While the trade and political tussle between Australia and China challenge the commodity bulls, CNBC came out with the news suggesting further hardships for Antipodeans given Beijing’s dominance in the commodity market. The news piece cites the recently conveyed, between November 12 and December 11, China Beige Book survey to expect sharp drops in sales growth for luxury goods, food and apparel compared to the prior quarter. The report also mentioned, “After about a year since Covid-19 first emerged in the Chinese city of Wuhan, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, profitability and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
