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Low liquidity continues and adds to Trade Optimism to boost the AUD

Published December 27, 2019

Author: Steve Oram

Welcome back to those working through, I hope Christmas was good to you and the short break has charged the batteries.

Something that appears to be true of the Aussie Dollar as it opened this morning and rallied to 5 month highs as risk is back on.Trump’s comments on a “Trade Agreement is done” has reduced demand for safe haven currencies. Holiday thinned trading added to the support in our currency and what might be a blip has seen AUD move higher against most of its peers.

Little of interest on the data front today and there also not much event risk left for the year. Chinese manufacturing PMI on December 31 may surprise higher with rising confidence in a Trade deal and year end flows all of which could add to the rising AUD.

The team at EncoreFX will be working through the Christmas and New Year break, with the exception of weekends and statutory holidays. If you need anything at all, please don’t hesitate to contact us.

 

 

Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (Australia) Pty Ltd on 30 March 2020.

Rees Logan, Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (NZ) Limited on 30 March 2020.

Any queries regarding the Administrations should be directed to encorefx@au.ey.com.