Fresh data coming out from Australia suggesting that a looming recession in on the way.thus,AUDUSD may attempt once again to continue the rebound from yearly-low at 0.6677.
RBA future decisions may decrease the speculations on interest rate reduction,as RBA insists that Australian economy can sustain a lower unemployement rate.
However,it’s possible that RBA insulate the economy further as US and China,Australia biggest trading partner,are struggling to reach an agreement.
On the other hand the RBA have announced that they may endorse a more easing monetary policy especially now that the PBOC have reduced yuan refrence rate.
It remains to be seen whether US-China disputes will lead to a currency war,as the PBOC declared that they don’t utilize the exchange rate as a means to deal with international trade disputes.