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The market wants more from China: Australian dollar losses extend beyond 1%

The market wants more from China: Australian dollar losses extend beyond 1%
The rally in the Australian dollar has been front-running China stimulus for two weeks so it's not a big surprise to see a 'sell the fact' trade today, especially with worries about quarter-end selling in global equities also creeping in.China delivered cuts to the 1-year and 5-year loan prime rates today, as expected but the market wants some kind of bazooka on the fiscal side as well. It's also not clear whether these are one-off rate cuts or part of a cycle.For now, the mode is to retrace the... Read More
Posted: Jun 20 2023, 12:46
Author Name: forexlive
Views: 081188

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