EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
As investors continued to digest the conflicting signals from the US on the prospect for a breakthrough in the US-China trade dispute, we saw the AUD lose ground from yesterday’s highs and now trading back marginally under 0.7300. In the absence of any major market moving economic release, the markets are anticipating the RBA November meeting minutes to be released at 11:30 Sydney time this morning and a scheduled speech by Governor Philip Lowe. Mounting speculation that the US Fed may not raise rates in December hasn’t hurt the USD too much just yet with a flight to safety dominating the markets hence the rally in the gold price.
Uncertainty, volatility and lack of confidence are the dominating themes in the markets at the moment and none of them are going to help the AUD or equities markets.
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