This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Huawei CFO has been granted bail by Justice William Ehrcke on Tuesday.
Meng Wanzhou will be subject to monitoring, a curfew and other strict conditions to adhere to bail conditions.
President Donald Trump said he would intervene in the Huawei case on Wednesday, using it as a trade strategy to advance trade negotiations with China.
Mr said intervention could provide national security and trade talks with China.
His comments come after the Canadian court on Tuesday granted arrested CFO Meng Wanzhou bail, while she awaits a decision.
Meng was arrested in Canada on December 1st, after being accused by the US of covering up her company’s Iran-linked transactions, violating US sanctions on Iran.
President Trump said the White House has spoken with the Justice Department about the case, as well as Chinese officials.
"They have not called me yet. They are talking to my people. But they have not called me yet," Trump said on Wednesday when asked if he has spoken to Chinese President Xi Jinping.
Trump said in an interview with Reuters: "Whatever's good for this country, I would do." "If I think it's good for what will be certainly the largest trade deal ever made – which is a very important thing – what's good for national security – I would certainly intervene if I thought it was necessary," Trump said.
Analysts say Trump is mixing political gains with a national security situation, which could end badly for markets.
Australian Dollar price
AUD/USD traded to 0.7220 reacting to the news, with a resistance at 0.7225.
The price jump comes after the dollar had seen falls over Brexit delay news, however the jump didn’t last long after the headlines were announced. Traders were started to sell at time of writing.