EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
It may have appeared that the AUD enjoyed the elevation of Scott Morrison in becoming Australia’s 30th prime minister but it was more of a relief rally initially with the real move happening on Friday night. The Aussie rallied solidly through 0.7300, 1% higher than mid Friday afternoon our time supported by Powell’s comments and a weaker greenback.
The economic calendar is a bit light on this week until Friday when we get China’s PMI; the first that will show a full months impact of the trade war.
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