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Australia reports Trade Surplus of AUD4,294 million in August, as both imports and exports drop
According to the Preliminary August Trade Balance data published by the Australian Bureau of Statistics (ABS) on Friday, “while both exports and imports declined in August 2020 a goods trade surplus of $4,294m (original, current price, merchandise trade basis) has been recorded”.
Key details
“Export
Japan Bank Lending Rises 6.3% On Year In July
Overall bank lending in Japan was up 6.3 percent on year in July, the Bank of Japan said on Tuesday - coming in at 572.705 trillion yen.
That was shy of expectations for an increase of 6.5 percent but still up from the 6.2 percent gain in June.
Excluding trusts, bank lending gained an annual 6.4 per
GBP/USD: Positive phase remains intact – UOB
Cable is now facing the next key target at the 1.3200 level in the next weeks, suggested FX Strategists at UOB Group.
Key Quotes
24-hour view: “Yesterday, we held the view that ‘the rapid rebound appears to have room to extend higher but for today, a break of 1.3125 appears unlikely (next resistance
AUD/USD clings to modest gains near mid-0.7100s
A combination of factors assisted AUD/USD to gain traction for the fifth consecutive session.
The prevalent USD selling bias and upbeat market mood remained supportive of the move up.
Concerns over worsening US-China relations might cap gains amid overstretched conditions.
The AUD/USD pair traded w
UK signals it will suspend extradition treaty with Hong Kong – BBG
Bloomberg reports that the Foreign Secretary Dominic Raab signalled the UK will join its international allies in suspending an extradition treaty with Hong Kong after China imposed a national security law on the former British colony.
Lead paragraphs
Raab told Sky News on Sunday he would update Par
Dollar regains traction as weakness in U.S. stocks triggers safe-haven usd buying
Market Review - 09/07/2020 23:42GMT
Dollar regains traction as weakness in U.S. stocks triggers safe-haven usd buying The greenback went through a hectic Thursday session as despite initial weakness in Asia and European morning, dollar staged a strong rebound in New York morning on active safe-h
GBP/USD under pressure below 1.2600 amid risk-off mood
GBP/USD consolidates the downside amid risk-aversion.
Coronavirus fears offset UK fiscal stimulus optimism.
UK turns down EU coronavirus vaccine scheme.
Following a steady decline in the overnight trade, GBP/USD looks to extend the downside consolidative mode below 1.2600 in early Europe and remain
Major Pair Updates: Hourly & daily
It seems the risk on and risk off are the key drivers of the dollar. Nothing new there. But this environment is another reason, besides the wave chart analysis, is why if push come to shove, I still believe the dollar index has more room to correct higher.
Sentiment in the stock market is so bul
