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Aussie Dollar (AUD) Slumps On US China Trade War

The Australian Dollar (A$) ⇨ US Dollar ($) (AUDUSD) has continued its recent falls hitting US 73.32 cents overnight, according to Yahoo! Finance. 

The Australian Dollar (A$) ⇨ US Dollar ($) (AUDUSD) has continued its recent falls hitting US 73.32 cents overnight, according to Yahoo! Finance.

The trade war of words between Donald Trump’s USA and China once again spooked US investors overnight with the Dow Jones Industrial Average (.DJI) falling another 0.7%.

The Dow Jones has fallen almost 5% from its peak earlier in the month as the latest trade war of words is suggesting Donald Trump’s decision to block Chinese investment in US technology companies could backfire.

According to NBC, investors are worried that Trump’s protectionist views could stymie innovation in the US technology market more-so than help it.

Overnight, shares of Apple Inc (AAPL), Alphabet Inc (GOOGL), Inc (AMZN) and Intel Corporation (INTL) ended the session lower.

“This is a little bit different because it involves investment,” George Washington University Professor Michael Moore told NBC. “Tariffs on goods can be changed in a heartbeat.”

Your Hogs Aren’t Safe

Trump is concerned about more than China’s demands to analyse the intellectual property of US technology companies, which is a requirement for foreign tech companies going into China.

Trump has taken a stance on European made cars, foreign aluminium and, now, Harley Davidson’s decision to move their plant operations to Thailand.

Still, it must be said that Trump has many supporters and the US economy appears to be back on a growth path, although how much is attributable to him is up for debate.

With US interest rates on the rise and Australia’s RBA wondering what to do next, it’s anyone guess what the Australian Dollar (AUD) will do next.

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