China to put AUD further at risk, economists at Société Générale report.
China to put AUD further at risk, economists at Société Générale report.
AUD/USD at risk of further losses
Antipodean currencies are very exposed to China’s economic problems. While the Australian Dollar has already lost 7% since the double-top it formed in June and July at 0.69, further losses are possible.
Almost all the July data missed market expectations by a wide margin. The message is loud and clear: China is experiencing all-out deflation. Contracting Chinese demand for Australian commodities (iron ore) and, more directly, softer Chinese stocks are putting AUD/USD more at risk
Antipodean currencies are very exposed to China’s economic problems. While the Australian Dollar has already lost 7% since the double-top it formed in June and July at 0.69, further losses are possible.
Almost all the July data missed market expectations by a wide margin. The message is loud and clear: China is experiencing all-out deflation. Contracting Chinese demand for Australian commodities (iron ore) and, more directly, softer Chinese stocks are putting AUD/USD more at risk
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