The AUD is not changing a lot against the greenback in early September, currently trading at $0.7155. The US may announce new customs duties for Chinese goods, which may wreck the scheduled negotiations between Beijing and Washington on trading terms. If the US continue their aggressive policy, China may just refuse to talk; no one would want to talk when there’s a gun put against one’s head, after all.
What is going on now is against common sense: while some US politicians try to come to an agreement with China, Donald Trump is making every effort to complicate matters. Washington is quite interested in peaceful talks, as the Republicans are losing their power, which is bad, as the Senate elections are near.
This week, a lot of news is coming from Australia. On Tuesday, the RBA meeting minutes are due, as well as the home ask prices index. On Wednesday, the leading indicator index is being released, while the RBA quarterly report is due Thursday. Still, the Chinese news is the crucial thing for the Aussie, as China is Australia’s key trading partner.
Orgin: RoboForex
