AUD/USD at session highs just under the 0.6800 handle
- China reiterates that US trade talks were constructive and there was substantial progress
- China commerce ministry: The goal is to stop the trade war, remove all tariffs
- China commerce ministry: We are discussing the next phase of trade talks
The barrage of positive remarks from China has helped risk trades gain some light ground in the European morning, with the aussie and kiwi pushing higher on the session.
Equities and bond yields have also inched a little higher but nothing too major as of yet as markets feed off some optimism from the above remarks. US futures are now up by 0.1% after having been weaker by 0.3% earlier in the day.
For AUD/USD, price is now moving towards a test of the key near-term resistance region around 0.6800-09 with large expiries between 0.6800-15 also to play a role in limiting price gains on the day.
If we start to see price chase a move above those levels, there could be significant upside for buyers from a technical perspective as we look towards the end of the week.
