Created
: 2025.04.08
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
AUD/USD surges to near 0.6050 despite multiple headwinds
World FX news
Breaking news
AUD/USD surges to near 0.6050 despite multiple headwinds
New
2025.04.08 20:00
2025.04.08 20:00
2025.04.08 20:00
- AUD/USD gains sharply to near 0.6050 despite worsening trade relations between the US and China.
- In retaliation to Trump's reciprocal tariffs, China has imposed a 34% import duty on goods coming from the US.
- Fed Powell expects that risks to inflation and unemployment have skewed on the upside by Trump's tariffs.
The AUD/USD pair soars to near 0.6050 during European trading hours on Tuesday. The Aussie pair strengthens as the Australian Dollar (AUD) advances strongly even though fears of a trade war between the United States (US) and China have escalated.
Australian Dollar PRICE Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.17% | -0.63% | -0.36% | -0.94% | -0.98% | -0.56% | |
| EUR | 0.18% | -0.04% | -0.50% | -0.19% | -0.76% | -0.76% | -0.39% | |
| GBP | 0.17% | 0.04% | -0.43% | -0.13% | -0.71% | -0.72% | -0.28% | |
| JPY | 0.63% | 0.50% | 0.43% | 0.26% | -0.31% | -0.38% | 0.11% | |
| CAD | 0.36% | 0.19% | 0.13% | -0.26% | -0.59% | -0.60% | -0.13% | |
| AUD | 0.94% | 0.76% | 0.71% | 0.31% | 0.59% | -0.00% | 0.44% | |
| NZD | 0.98% | 0.76% | 0.72% | 0.38% | 0.60% | 0.00% | 0.45% | |
| CHF | 0.56% | 0.39% | 0.28% | -0.11% | 0.13% | -0.44% | -0.45% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
China vows to retaliate against the US in the face of worse-than-expected tariffs imposed by President Donald Trump. Earlier in the day, a spokesperson for the Chinese Ministry of Commerce warned that the US president's new tariff threats were "a mistake on top of a mistake" and China will "fight to the end" to protect its interest.
The comments came from Beijing after Trump threatened on Monday to slap additional 50% import duty on China for announcing 34% levy on the US as a countermeasure against reciprocal tariffs revealed on Liberation Day.
An absence of demand for goods by the US from China will also stem a sharp decline in the business activity in Australia, given its significant dependency on its exports to China.
In addition to US-China trade tensions, bloating Reserve Bank of Australia (RBA) dovish bets are also unfavorable for the Australian Dollar. RBA dovish bets have swelled as tariffs on China are also a big hit on the Australian economy.
Meanwhile, the US Dollar (USD) remains under pressure as investors expect that Trump's tariff agenda could lead to a resurgence in inflation and slower economic growth in the US economy. We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation," Federal Reserve (Fed) Chair Jerome Powell said on Friday.
US-China Trade War FAQs
Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.
The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
Last updated
: 2025.04.08
Related articles
Japanese Yen retreats from multi-month high against USD; bullish bias remains intact
3 minutes agoAustralian Dollar holds losses following employment data release
34 minutes agoUSD/CAD edges higher above 1.3850, BoC holds policy rate at 2.75%
49 minutes agoBoJ's Nagakawa: If outlook realized, the BoJ will continue to raise interest rate
54 minutes agoChina's Foreign Ministry: If US continues to play tariff numbers game, China will pay no attention
2025.04.17 10:35Australia's Unemployment Rate rises to 4.1% in March vs. 4.2% expected
2025.04.17 10:32
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Japanese Yen retreats from multi-month high against USD; bullish bias remains intact
The Japanese Yen (JPY) retreats after hitting a fresh multi-month high against its American counterpart during the Asian session Thursday, though any meaningful downside still seems elusive.
New
2025.04.17 11:43Australian Dollar holds losses following employment data release
The Australian Dollar (AUD) is trading lower against the US Dollar (USD), snapping a six-day winning streak.
New
2025.04.17 11:12USD/CAD edges higher above 1.3850, BoC holds policy rate at 2.75%
The USD/CAD pair trades in positive territory near 1.3880 during the early Asian session on Thursday. However, the upside for the pad might be limited amid the escalating trade uncertainties. Traders brace for the developments surrounding US trade talks with trading partners.
New
2025.04.17 10:58BoJ's Nagakawa: If outlook realized, the BoJ will continue to raise interest rate
Bank of Japan (BoJ) board member Junko Nagakawa said on Thursday that "if the outlook for economic activity and prices is realised, the BoJ will continue to raise interest rate and adjust degree of monetary accommodation."
New
2025.04.17 10:52China's Foreign Ministry: If US continues to play tariff numbers game, China will pay no attention
China's Foreign Ministry said in a statement on Thursday that if the United States (US) continues to play the tariff numbers game, China will pay no attention.
New
2025.04.17 10:35Australia's Unemployment Rate rises to 4.1% in March vs. 4.2% expected
Australia's Unemployment Rate rose to 4.1% in March, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came below the market consensus of 4.2%.Developing story......
New
2025.04.17 10:32BoJ's Ueda: Japan's real interest rate remains very low
Bank of Japan Governor Kazuo Ueda said on Thursday that Japan's real interest rates remain very low. Ueda further stated that the central bank will increase the rate if the economic outlook is achieved.
New
2025.04.17 10:27Japan PM Ishiba says talks with the US were constructive
Japan's Prime Minister Shigeru Ishiba said on Thursday that talks with the United States were constructive, adding that the government will continue to consider trade negotiations a top priority.
New
2025.04.17 10:16PBOC sets USD/CNY reference rate at 7.2085 vs. 7.2133 previous
The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.2085 as compared to the previous day's fix of 7.2133 and 7.3083 Reuters estimate.
New
2025.04.17 10:15US President Donald Trump claims 'big progress' in Japan trade talks
US President Donald Trump said trade talk negotiators had made "big progress" following a meeting with Japanese representatives in Washington about the barrage of tariffs he has imposed on global imports, per Reuters.
New
2025.04.17 10:01Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
