RBA rate decision tomorrow - potential downside risk due to highly possible rate cut. Ongoing trade tensions - potential downside risk due to being China’s proxy.
Weekly Forex review and the key fundamental and technical analysis for the week ahead. We discuss the US-China trade war, Brexit and the all-important Australian elections.
U.S.-China Trade talk to start the 11th round next week. RBA and RBNZ to hold interest rate meetings. U.K. GDP to be released on Friday.
Even though the USD is holding its range Kiwi and GBP are nearing critical levels
China’s manufacturing PMI due next week could be negative news as data could return to contraction territories due to trade tensions. Building approvals and private capital expenditure are key news releases to watch out
Top U.S. and Chinese trade negotiators concluded the first day of talks on Thursday. Investors still hopeful of a breakthrough in Friday’s negotiation. Australia employment data to be released next week. Keep an eye out for EU’s GDP and CPI data next week.
China will host US negotiators in a new round of trade negotiations in Beijing next week, though even as talk of truce continues, Asia’s trade is still hurting.
It hasn't broken the recent range but the DXY had it's best close since July 2017.