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Currency Market Analysis

Dec 10, 2019 | Currency Market Analysis

Global Themes

Aussie slips as markets wait for trade news

• Aussie weakens overnight
• Trade talks in focus
• US inflation, Fed key

Trade deadline looms

The AUDUSD was moderately lower overnight as markets waited for the next step in the US-China trade talks.

With the next round of tariffs to be introduced by the US on Saturday, markets are on edge for further detail on the critical trade negotiations.

Overnight, US President Donald Trump provided no new details saying: "We are doing well with China in trade deal".

Aussie down

The AUDUSD fell 0.2%.

The Aussie was mixed in other markets.

In Europe, the AUDUER was stronger as the euro fell ahead of this week’s key meeting from the European Central Bank.

The AUDEUR neared one-month highs.

On the other hand, the AUDCHF fell, with the pair dropping to three-week lows.

Fed in focus

Today’s Reserve Bank of Australia speech from governor Philip Lowe side-stepped monetary policy and instead looked at payment policies.

Now, the focus shifts to the US, with inflation tomorrow night and the US Federal Reserve decision on Thursday morning.

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