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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.
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AUD/USD sits a touch lower at $0.6749........>
AUSSIE: AUD/USD sits a touch lower at $0.6749 after shedding 22 pips yesterday.
- On Tuesday, the pair showed muted reaction to the latest RBA monetary policy
meeting minutes, which contained a discussion of potential impediments to
boosting monetary stimulus, concluded by an assertion that those factors didn't
outweigh the case for a rate cut. Downside pressure emerged in London hours amid
uncertainty re: U.S.-China trade talks; BBG reported that China is unlikely to
buy the $40-50bn worth of U.S. farms products touted by U.S. Pres Trump unless
the U.S. rolls back its tariffs on Beijing. AUD/USD pulled back from lows into
the WMR fix, but eased off thereafter.
- Bears need a drop below $0.6743, where the rate bottomed out yesterday, before
turning focus to the Oct 8 & 9 lows of $0.6723. Conversely, a breach of the
nearby 38.2% retracement of the Sep 12 - Oct 2 slide/21-DMA at $0.6757/58 would
put bulls in the position to target the 50-DMA/50% retracement of the
aforementioned range at $0.6778/83.
- Aussie labour mkt report & RBA Dep Gov Debelle's speech are due Thursday, RBA
Gov Lowe appears on Friday. Worth watching Chinese econ indicators on Friday.
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.