EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
Both China and the US concluded 3-days of trade talks on Thursday. Progress was made on ‘structural issues’ such as forced technology transfers and intellectual property rights. There were mixed messages from Chinese inflation data released on Thursday. The Producer Price Index (PPI) serves as a measure of prices business receive for their goods and services, the lower-than-expected reading is bad news for commodities and commodity currencies like the AUD. However, with cooling consumer inflation, China’s central bank will have room to stimulate the economy which may provide support to the AUD. Thus overnight we saw the AUD edge higher.
Today investors will keep an eye on Australian retail sales data and US inflation which will provide some hints on the Fed’s outlook and direction.
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