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Free AccessAUD/USD last deals at $0.7360, back from.....>
AUSSIE: AUD/USD last deals at $0.7360, back from the early high of $0.7384. Rate
still trades ~55 pips better off on the day after the U.S.-China trade war
"truce" agreed over the weekend.
- Little reaction in the cross to the latest GDP partials released earlier
today. That comes after soft completed construction work & CapEx data last week,
although Q2's CapEx reading was subject to upward revisions, as was the
completed construction work metric for Q2.
- From a technical perspective, bulls are looking to the Aug 21 high at $0.7382,
while initial support is noted at Friday's intraday low at $0.7285.
- Focus in the early part of the week will fall on the broader risk backdrop,
ahead of Tuesday's RBA MonPol decision & Wednesday's AU GDP release.
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.