Free Trial

After a whip-saw reaction to ambiguous.......>

AUSSIE
AUSSIE: After a whip-saw reaction to ambiguous comments re: U.S.-China trade
matters, AUD/USD pushed higher Tuesday amid a positive showing from global
equity markets. The rate trimmed those gains ahead of the close, but still
finished in positive territory.
- RBA Dep Gov Debelle spoke yesterday, noting that AUD trading volumes reached
record highs, even during the liquidity crunch in March. Debelle contrasted this
with the 2008 GFC, when "there was almost no volume" and pointed to "a lot of
re-balancing flows".
- Elsewhere, Australian Treasurer Frydenberg said that the unemployment rate
will probably reach about 8% in Q3.
- AUD/USD last trades at $0.6934 at typing, little changed on the day. A break
above Jun 16 high of $0.6977 would expose round figure resistance/Jun 11 peak at
$0.7000/05. Bears look for a drop through Jun 15 low of $0.6777, towards the
50-EMA at $0.6692.
- Focus in Oz moves to skilled vacancies (today) and job vacancies (Thurs).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.