China considers closure of US consulate in Wuhan in a tit-for-tat response – Reuters

Dhwani Mehta FXStreet

Citing sources with the knowledge of the matter, Reuters reports that China is considering the closure of the US consulate in Wuhan in response to the US order to shut China's Houston consulate.

China’s Foreign Ministry, in its earlier statement, had already threatened retaliation, as they cited the US’ move as outrageous.

Also, the US State Department accusing Beijing of stealing the American Intellectual Property (IP) and private information, seems to have not gone down too well with China this time, as it considers a tit-for-tat response.

S&P 500 Futures off the lows

S&P 500 futures are off the two-day lows but still lose 0.45% on a daily basis to hover near 3,240, at the press time.

AUD/USD has also trimmed gains, tracking the negative tone in the US stock futures, now trading around 0.7140.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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