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Long AUD bear market is in its final stages now - SocGen

Kit Juckes, Research Analyst at Societe Generale, notes that AUD and NZD are a bit softer today but the AUD bounced after a 100%-discounted rate cut is, at the very least, a reminder that the long AUD bear market is in its final stages now.

Key Quotes

“AUD/NZD may still have medium-term upside, but the drivers of FX weakness in the region – weaker commodities prices, terms of trade, the Chinese slowdown and monetary policy convergence, are all tired.”

 

European Monetary Union Markit Services PMI above expectations (52.7) in July: Actual (52.9)

European Monetary Union Markit Services PMI above expectations (52.7) in July: Actual (52.9)
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USD/CAD building on Tuesday’s rebound, jumps to session high at 1.3150

The USD/CAD pair's sharp rebound from 1.3000 psychological mark touched on Tuesday gained further traction during early European trading session, lift
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