Author: Dennis Li
With the markets taking the further US-China trade friction in its stride, the Aussie dollar showed impressive resilience, broadly up against its major peers with AUDUSD regaining 0.53% of its value overnight and the AUDEUR also rallying by 0.67% in the last 24 hrs. Again, the 0.7235 resistance level proved too tough to break but there does appear to be enough anecdotal evidence in the market to suggest a break will come as soon as today.
The RBA minutes of September meeting released on Tuesday sounded upbeat on the healthy labor market and household consumption, but warned that trade tensions pose a ‘material risk’ to the economy.
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