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AUD Edges Lower Following Reports On Sino-Australian Tensions

FOREX

G10 FX are happy to hold relatively tight ranges, looking for new signals. AUD trades on a softer footing after local press circulated reports noting that Beijing could slap 40% tariffs on Australian cotton exports, effectively making them unviable. GBP has faced some light pressure amid lingering Brexit concerns.

  • USD/CNH is rangebound, has already faded its earlier uptick and last trades flat, with focus falling on the last PBoC fix of the week.
  • USD/KRW popped higher at the re-open as South Korea's unemployment rate increased to 3.9% from 3.2%, but the move may have been limited by the fact that the country's daily Covid-19 case count pulled back below 50.
  • Eyes move to EZ trade balance & final CPI, U.S. retail sales, industrial output & flash U. of Mich. Survey as well as comments from Fed's Bullard & Williams and Riksbank's Ingves. PM Johnson Brexit announcement will also provide interest.
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