We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 1.67% Wall Street: 0.90% Germany 30: 0.89% US 500: 0.65% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/5LHY5FmIF9
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/I6VTWPtUwc
  • Canadian Dollar Forecast: USD/CAD Price- Ready to Edge Lower? More details in the link: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/05/26/Canadian-Dollar-Forecast-USDCAD-Price-Ready-to-Edge-Lower-MK.html?CHID=9&QPID=917714 https://t.co/eTYFyolGbV
  • Vaccine hopes, a Franco-German recovery package proposal, and a Fed that is committed to provide further liquidity has taken some of the shine off the safe-haven US Dollar.Get your market update from @JMcQueenFX here:https://t.co/GeN07sifc0 https://t.co/r8RTJC8bBG
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3XSyQQShxq
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/rpZihwpSS1
  • Gold Prices Echo US Dollar Drop as Market Mood Improves - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/05/26/Gold-Prices-Echo-US-Dollar-Drop-as-Market-Mood-Improves.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #xauusd #CrudeOil #OOTT
  • EU ready to drop maximalist approach to fisheries negotiations with the UK in the next round of Brexit talks (June 1st-5th), according to sources
  • USDMXN leaning on 50% Fib retracement - lower highs and lower lows still dominant. #usdmxn #mexicanpeso @DailyFXTeam https://t.co/GzYTHx7trp
  • $AUDUSD: empuje alcista en medio de dos fuerzas oponentes #aud #usd #trading https://t.co/jsKHvIOLK7
US Listed Chinese Stocks Drop on Senate Passing Oversight Bill

US Listed Chinese Stocks Drop on Senate Passing Oversight Bill

2020-05-20 18:00:00
Thomas Westwater, Contributor

US-China Relations, Chinese Stocks, USDCNH, Senate Oversight Bill – Talking Points:

  • The Senate passed a bill aimed at increasing oversight on Chinese stocks listed on U.S. exchanges
  • Alibaba and other U.S. listed Chinese stocks turned lower as news crossed the wires
  • The Chinese Yuan remains weaker on souring Sino-U.S. relations amid the COVID-19 pandemic

The US Senate cleared new legislation Wednesday, aimed at increased oversight of Chinese companies listed on U.S. stock exchanges. Introduced by Republican Senator John Kennedy, the bill, Holding Foreign Companies Accountable Act, would require Chinese securities to be delisted after three consecutive years of not undergoing an audit from a registered public accounting firm. Chinese stocks listed on U.S. exchanges, such as Alibaba, reacted negatively to the news and is currently 2% lower in afternoon trading.


BABA stock US Senate BIll

Chart created in TradingView by Thomas Westwater

Increasing tensions between the United States and China scaled back after the signing of the phase-one trade deal back in January. However, the COVID-19 pandemic has seemingly reawakened tensions between the two countries, as President Trump continues to take aim at China over their handling of the coronavirus.

USDCNH (Daily Chart)

USDCNH reacts to US Senate BIll

Source: IG Charts

Traits of Successful Traders
Traits of Successful Traders
Recommended by Thomas Westwater
Traits of Successful Traders
Get My Guide

USDCNH price action may reflect the recent breakdown in relations. The currency pair’s price level remaining above the 7.000 mark, a psychological level for judging turbulence in Sino-US relations, but also a level the PBOC has defended in the past. Trading above the mark represents a metaphorical signal in the souring relationship, as China’s PBOC has set a stronger than expected fixed rate for the Yuan in previous weeks.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.