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Australian Dollar Dismisses Positive Chinese Data as US Blacklists SMIC, CNOOC – DailyFX
The Australian Dollar initially pushed higher on the back of positive Chinese PMI data before the Trump administration’s move to blacklist SMIC and CNOOC propelled…
Australian Dollar, Chinese PMI, SMIC, CNOOC, Australia-China Trade War Talking Points:
- The Australia Dollar initially pushed higher on robust Chinese economic data.
- However, the Trump administrations move to blacklist SMIC and CNOOC propelled the trade-sensitive currency lower.
- Deteriorating Australia-China relations threatens to undermine the nations economic recovery.
- AUD/USD rates eyeing yearly high after breaching key resistance.
The Australian Dollar clambered back above the psychologically…
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