In the midst of climbing geopolitical tensions between the US and China over the Chinese balloon raids, a Chinese official warned the United States not to escalate the tense situation.
This comes after US President Joe Biden’s administration praised the Pentagon for shooting down a suspected Chinese spy balloon off the US Atlantic coast on Saturday.
In response, China angrily expressed “strong dissatisfaction” with the move, saying it could provide “necessary answers.”
Market reaction
The forex market has not been affected by the US-China conflict, but Chinese equities are down 1-2% year to date. US S&P500 Index futures are down 0.35% on the day.
The AUD/USD pair regains ground above 0.6900, up 0.05% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
