Commodity currencies recover, U.S.-China dispute dampens sentiment

05.05.2020 - Davydova Maria
Commodity currencies recover, U.S.-China dispute dampens sentiment

The dollar surrendered minimal gains to commodity prices on Tuesday as oil prices regained momentum. However, it hung on against the yuan as investors weighed optimism about COVID-19 recovery in China against concerns about U.S.-China dispute.

The Australian and New Zealand dollars advanced further, recovering from Monday’s decline. Upbeat activity drove Aussie at $0.6445 and the kiwi at $0.6062.

The yuan increased to 7.1190 per dollar in offshore trade. It recovered from a six-week low record last session but still defeated compared to its performance last month.

Public holidays in Japan and China eased trade tensions but further moves were capped by investors’ dire speculation on the global growth outlook. Approaching Australian and New Zealand central bank meetings also brought caution.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?