The Trifecta Pulling the Aussie Dollar Lower

Wednesday 2nd August 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABNAB’s Rodrigo Catril says the Aussie dollar has been pulled down by three factors. First, the RBA decision to hold. Although most expected it, there was some pricing for a rise that didn’t materialise. Secondly, the US dollar is higher, on further hopes of a soft landing. US bond yields are also higher because higher than planned government borrowing will see a lot more being issued. Thirdly, China. The Caixin Manufacturing PMIs were soft, and there’s still no clear sign of an effective strategy for mitigating the country’s downturn. Cricket was not one of the reasons. Hosted on Acast. See acast.com/privacy for more information.