A$US$ supported as eyes on Trump/Chinese talks
Good morning all;
AUDUSD: News from the weekend suggests the US and China are in behind-door discussions to determine a way for both to come away from these trade war / negotiations as having saved face. This will see the A$ supported and we’ll look to tomorrows US Durable Goods orders and Thursdays US GDP numbers as market movers this week. Focus will however be on next Tuesdays Reserve Bank meet as well as a string of important domestic economic releases that should give us short and medium term direction.
On the charts the tech’s suggest we’ll have a push to the red trend line which comes into play at 0.7550 which could prove tough, but once Donald trump and the Chinese say all is good in the world then expect a break and so I'll keep forecasts as 3 months 0.7650, 6 months 0.7850 and in 1 year 0.80c+
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