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Free AccessAUD/USD has edged higher on the back of......>
AUSSIE: AUD/USD has edged higher on the back of constructive trade rhetoric from
China's MOFCOM. In BBG headlines MOFCOM noted that "China is to push forward
with U.S. trade negotiations over the 90 day period." MOFCOM stressed that the
trade meeting was "very successful" and that it is "confident that it can
execute the trade talk results."
- Rate last $0.7348, hit a high of $0.7356 on the comments. Bullish exhaustion
ahead of the key $0.74 has been noted. Bulls continue to target a break of the
level which also holds the congestion zone seen in Jun-Aug. On the downside, a
close below $0.7300 would suggest a false bullish breakout.
- AU GDP data headlines today, with a focus on the household consumption
component, a focal point for the RBA.
To read the full story
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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.