Suspension of beef imports from Australia is not linked to coronavirus-linked dispute

NDDFX Forex Broker > NDDFX Blog > Forex News > Suspension of beef imports from Australia is not linked to coronavirus-linked dispute

Forex News

Suspension of beef imports from Australia is not linked to coronavirus-linked dispute

by Stephen Innes 12.05.2020

China’s Foreign Ministry is out with a statement after Beijing banned beef imports from Australia’s four abattoirs earlier this Tuesday.

The Ministry clarified that the suspension of beef imports from Australian firms is not linked to the coronavirus-related dispute. It is to protect the customers.

The customs found beef products from certain Australian firms violating the inspection requirements, Foreign Ministry reported.

Market reaction

The market mood still remains tepid, as traders fail to buy into the Chinese comments on the trade situation.

AUD/USD keeps losses near 0.6470 while USD/JPY still trades with small losses at 107.60.

Source Link

Stephen Innes

With more than 25 years of experience, Stephen has a deep-seated knowledge of G10 and Asian currency markets as well as precious metal and oil markets. He is regularly called upon by leading TV, radio and print publications to offer my views on the financial markets. Stephen appears extensively on global news channels such as Bloomberg, BBC, Reuters, CNBC, Sky TV, Your Money, Channel News Asia, CNN, France 24 and ASTRO Awani. As well as published in prestigious publications, the New York Times, Wall Street Journal and The Economist, among others.

Copyright © 2020 NDDFX Technology LTD., an International Business Company under registered number 173,980, Belize. NDDFX Technology LTD is a fully licensed and Regulated broker governed and supervised by the Saint Vincent Finance Service Authority (FSA) License No 25376 IBC 2020. Risk Warning: Before deciding to trade using high leverage, you need to consider that margin trading is not suitable for every investor, and you need to be sure that you correctly assess possible risks. You should not risk that you are not ready to lose. You should be aware of all the risks associated with margin trading. If necessary, take independent advice.

Go to Top

Suspension of beef imports from Australia is not linked to coronavirus-linked dispute

Market reaction

Stephen Innes

Latest Updates

EUR/GBP consolidates at multi-week highs above 0.8900

AUDUSD extends losses to test one-week lows at 0.6400

EUR/USD leaps to 2-day high near 1.0850 on US data