By Rowan Murphy
Well the G20 has come and gone and the Aussie has held/gained ground. In what seemed an unlikely outcome just a week ago the Aussie has closed the quarter, yet again, above 0.7000…
G20 (unofficial) Outcomes:
So what to expect from here? Well, it doesn’t all look like puppy dogs and rainbows from here as the cross approaches the top end of its year-long trend channel, following the bounce off the bottom in mid-June. With the full details and formal agreements to be reached between the US and China, what was spoken about, and what is finally agreed to, may be very different things.
Watch for a potential break of 0.7050 AUD/USD and 0.6200 for the AUD/EUR.
Tomorrow the RBA meets to decide Interest Rates and Markets are currently pricing in 78% chance of another cut at the moment.
Economic Calendar – Week Ahead
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