EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
After looking quite positive in a “risk on” environment at the end of last week, the AUD starts this week under pressure after the Chinese formerly cancelled trade talks with the US. The Chinese stated that they would not negotiate while under duress. In a similar theme, Brexit negotiations deteriorated further after PM May publicly criticising the EU’s treatment of her and the UK at the Salzburg summit.
In a week devoid of any real economic data, the US fed decision and accompanying comments on Thursday morning our time take on greater significance. Until then the AUD would be expected to remain in a tight range.
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