EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
After China released the new retaliatory tariffs last Friday on US goods the AUD recovered most of its losses from Thursday and starts the new week just below 0.7400 against the USD (the seventh Monday in a row). The RBA is expected to hold interest rates steady at its meeting tomorrow whilst Chinese trade data on Wednesday and CPI data on Thursday could bring some volatility. A fall in the EUR coupled with the rally on the AUD has seen a solid improvement in the cross rate to around 0.6385.
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