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Aussie lower in a quiet Asian trade

Aussie fell this morning despite the fact that there are no major domestic or regional data releases scheduled today, something that points to the likelihood of Chinese markets again dictating sentiment, hence direction in the Aussie. The currency was hit hard by a fresh slide in commodities as Chinese growth fears resurfaced in the wake of data showing a slide in industrial profits.  Read more...

Chinese Industrial Profits down by 8.8%

There were no data releases fro  Australia this morning. From, China, only minor importance Industrial Profits figures were released. Chinese August industrial profits fell by 8.8% y/y, while previous decline was by 2.9%. The Chinese statistical bureau is out with damage control on the soft reading. They say that costs (not sales) were behind declining profitability.  Read more...

Aussie lower in morning trade

Aussie was pushed lower as iron ore demand falls as demand from China wanes. Global analysts are watching the Chinese economic situation closely as Prime Minister Xi and other government officials say that the repositioning of the economy is moving in the right direction. There seems to be no indication of additional stimulus after PMI missed expectations again yesterday. 
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Aussie sligthly lower in a tighter-range Monday trade

There was little data in the morning session while the Aussie gave back some of its gains. Malcolm Turnbull put the handling of the economy at the center of his challenge to oust former Prime Minister Tony Abbott and the business community says he has to follow through with tax and economic reform after his sweeping ministerial changes. "We hope these changes pave the way for pursuing essential economic reforms, which are necessary for a more prosperous future and to return the budget to surplus," Australian Chamber of Commerce and Industry CEO Kate Carnell said. Read more...

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