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Sep 04 - 07:55 PM

AUD/USD - China Relief Supports But RBA And GDP Risk Loom

By Krishna K  —  Sep 04 - 05:40 PM
  • AUD/USD opens 0.15% higher as China property support moves lift risk mood

  • Boosted by rally in shares; Shanghai Composite closes 1.4% higher

  • Supported by higher iron ore prices; SGX iron ore hits 5-month high

  • Caution ahead of RBA rate decision Tuesday, GDP data Wednesday limit gains

  • POLL-RBA to hold rates at 4.10%, but will hike again next quarter

  • Signs of a sharp economic slowdown in Australia to weigh on sentiment

  • Fall in Q2 business inventories data suggests a small negative GDP print

  • Support 0.6440, 0.6410, resistance 0.6480, 0.6500; Mon range 0.6445-0.6480

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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