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AUSSIE: AUD/USD deals unch at $0.7214 after visiting lows of $0.7203 after a
USTR report showed China has not fundamentally altered its "unfair,
unreasonable, & mkt-distorting practices," suggesting that "China appears to
have taken further unreasonable actions in recent months."
- Some interesting comments from RBA Gov. Lowe in his Q&A session put pressure
on AUD in early London hours Tues. Lowe noted that the RBA is "starting to get
concerned about credit supply." While he also suggested that unemployment may go
to 4.5% without generating wage pressure. It's currently 5.0% & the RBA is
projecting 4.75% during '20.
- AUD/USD edged lower throughout the remainder of the day, with equity markets
trading heavy across the board.
- The break below the 100-DMA will please bears, who now look to the Nov 13 low
at $0.7164 after breaching trendline support. Bulls need to regain the 100-DMA
at $0.7255.
- Little major on the domestic calendar for the remainder of the week, so
broader risk themes, as well as AUD/NZD flow may drive the rate.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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