The Chinese foreign ministry is out with a statement on Wednesday, confirming the closure of its Houston consulate, adhering to the US’ demand.
Additional quotes
"China strongly condemns this "outrageous" move."
"Urges the US to correct its wrong decisions or there will be retaliation."
“The unilateral closure of China’s consulate-general in Houston within a short period of time is an unprecedented escalation of its recent actions against China.”
On reports of documents being burned in the Chinese consulate in Houston, says “the consulate is operating normally.”
This comes after the Global Times Editor, Hu Xijin, tweeted out earlier, “The US asked China to close Consulate General in Houston in 72 hours. This is a crazy move.”
Market reaction
This is another issue that has cropped up between the US and China, as the tensions continue to heighten, now weighing on the market mood. The haven demand for the greenback is back in play.
The S&P 500 futures have turned negative while AUD/USD dropped nearly 40-pips from the multi-month highs of 0.7168.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
![EUR/USD declines toward 1.0450 on USD recovery](https://editorial.fxsstatic.com/images/i/EURUSD-bearish-line_Medium.png)
EUR/USD declines toward 1.0450 on USD recovery
EUR/USD struggles to gain traction and declines toward 1.0450 on Tuesday despite the upbeat ZEW Survey - Economic Sentiment data for Germany and the Eurozone. Rising US Treasury bond yields support the US Dollar and weigh on the pair.
![GBP/USD struggles to hold above1.2600](https://editorial.fxsstatic.com/images/i/United_Kingdom_Medium.png)
GBP/USD struggles to hold above1.2600
GBP/USD stays under modest bearish pressure and trades below 1.2600 on Tuesday. Earlier in the day, the pair edged higher with the initial reaction to the UK labor market data, which showed that the Unemployment Rate held steady at 4.4% in the three months to December.
![Gold approaches record highs](https://editorial.fxsstatic.com/images/i/Commodities_Gold-2_Medium.jpg)
Gold approaches record highs
Gold prices advance to two-day highs around $2,930 per ounce troy amid the resumption of tariff concerns and despite the tepid rebound in the Geenback and an acceptable move higher in US yields across the curve.
![Why Solana, XRP, Dogecoin and BNB are crashing?](https://editorial.fxsstatic.com/images/i/SOL-bearish-object_Medium.png)
Why Solana, XRP, Dogecoin and BNB are crashing?
Solana (SOL), XRP, Dogecoin (DOGE) and Binance Coin (BNB) decline on Tuesday. Top altcoins ranked by market capitalization are in a downward trend, even though Bitcoin (BTC) continues to consolidate around the $95,000 level.
![Rates down under](https://editorial.fxsstatic.com/images/i/Public-Figures_Michele-Bullock_2_Medium.jpg)
Rates down under
Today all Australian eyes were on the Reserve Bank of Australia, and rates were cut as expected. RBA Michele Bullock said higher interest rates had been working as expected, slowing economic activity and curbing inflation, but warned that Tuesday’s first rate cut since 2020 was not the start of a series of reductions.
![The Best Brokers of the Year](https://editorial.fxsstatic.com/images/Brokers/Editors_Pick_Box_395x179_Medium.png)
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.