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The Australian Dollar (AUD) extends its rally that began on April 9, with the AUD/USD pair gaining ground as the US Dollar (USD) weakens amid growing concerns over the economic impact of tariffs on the United States (US).

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The USD/JPY pair softens to near 142.25 in a thin trading volume session on Friday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid concerns over the economic impact of tariffs. 

Bloomberg writes about the late-day buying in Chinese stocks this week, noting particularly strong bids in the final 20 minutes of trading in ETFs favored by China’s state-run agencies, or so-called National Team.

“The pick-up in trading in Huatai-Pinebridge CSI 300 ETF and China AMC SSE 50 ETF helped the Shanghai Stock Exchange Composite Index advance for an eighth straight day, marking its longest winning streak since October.”

Chinese stock markets will open shortly and Trump’s positive comments earlier about a China deal could provide a lift.

I take the move a sing that Beijing is determined to protect Chinese investors at a time of turmoil. That’s a nice wind to have in your sails at a turbulent time.

This article was written by Adam Button at www.forexlive.com.