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Aussie little changed in a quiet morning trade

There were no data releases from Australia this morning, with Aussie adding few points. Stress continued to ease China pumped more money into the banking system. China’s slump is shaking the world economy, turning a country long seen as a growth engine into a possible threat. The slowdown started as a side effect of the Communist Party’s plan to steer the world’s second-largest economy to a “new normal” of lower, steadier growth. It has turned into a nose dive that the party is struggling to reverse. Read more...

Aussie rebounding after sharp decline

It was quite volatile session for Aussie on Monday, though there were no major data releases. The Australian dollar slumped as much as 3.6 percent, the most in five years, and traded at its lowest since 2009. Haven currencies surged on concern China’s slowing economy will damp global growth, with the yen climbing the most since 2010. The U.S. dollar fell as traders pushed out expectations for higher interest rates from the Federal Reserve.
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Asian stocks at a 3-years low

Asian stocks slumped to 3-year lows on Monday as a slump in Chinese equities gathered pace, hastening an exodus from riskier assets as fears of a China-led global economic slowdown churned world markets. A 2.6% fall in S&P 500 mini futures ESc1 to a 10-month trough during Asian trading hours suggested the falls could continue later in the global session. Read more...

Aussie sideways trading continues

There were no major data releases from Australia this morning. With that being the case analysts are paying attention to commodity prices and development in China. Concerns about slowing growth in China sent Asian shares to two-year lows and pressured oil prices on Thursday while minutes from the U.S. Federal Reserve's July meeting dented expectations for a rate hike in mid-September."Markets are nervous of risks and investors are pulling funds out of emerging economies and resource exporters," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank. Read more...

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