Uncertainty lies ahead as the RBA Cash Rate event is due early next week. US China Trade War continues to influence sentiment.
AUD/USD Forecast
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Both the AUD/USD and EUR/USD dips as risk appetite recedes. The week ahead will be crucial as many economic events are to be expected.
The AUD/USD continues to climb as the tensions of the US China Trade War gets a break. Price action is likely to be sentimental in nature.
The AUD saw a return of bullish momentum as China reports positive economic data. The US China Trade War continues to influence the market sentiment.
The Australian Dollar faces pressure as building approval dips significantly. The US China Trade War continues to influence the market sentiment.
The US China Trade War looks set to deepen as tarrifs are added on both sides. The Australian economy is likely to be challenged.