Australian dollar rises on US-China trade hopes, Apple and tech stocks tumble

The Australian dollar outperformed most major currencies overnight, helped by a sharp fall in the greenback and renewed hopes for US-China trade talks.
The local currency lifted by 0.7 per cent to 71.68 US cents, which is still near its lowest level in two-and-a-half years.
It has also risen against the British pound (+0.6pc), euro (+0.6pc) and Japanese yen (+0.4pc).
But Australian shares are expected to fall in early trade, with ASX futures down 17 points.
In local economic news, the Australian Bureau of Statistics will release its latest job figures on Thursday morning.
Reuters-polled economists are predicting that 15,000 new jobs will have been created, and the unemployment rate to remain steady at 5.3 per cent in August.
US ‘guarantees nothing’ with stepped up China trade talks
The Trump administration has stepped up its communications with China over trade and an invitation for a new round of trade talks has been sent to Beijing, according to sources familiar with the matter.
White House economic adviser Larry Kudlow would not confirm the meeting invitation, but said that communication with Beijing had “picked up a notch”.
“The Treasury Department is in communication with China. I can’t go beyond that,” Mr Kudlow told reporters outside the White House.
He added that he views such communication as “a positive thing.”
“I think most of us think it’s better to talk than not to talk, and I think the Chinese government is willing to talk.”
Asked if the Trump administration would like to have additional trade talks with China, Kudlow said:
“If they come to the table in a serious way to generate some positive results, yes of course. That’s what we’ve been asking for months and months.”
But he cautioned: “I guarantee nothing.”

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Son Güncelleme: 19.01.2019 23:25