The Australian Dollar has been under broad pressure in recent days, on news that the Chinese economy’s cooling is more pronounced than earlier believed. As China is Australia biggest export market, growth concerns weigh more heavily on the economy and the currency. The Chinese government has been diligently working to avoid a hard landing, and analysts believe that they may now have to step up their easing efforts as a result. With all of the Asian markets lower on the growth concerns, the spillover onto the Aussie Dollar was a near certainty. The AUD/USD pair is lower at 1.0381, and sentiment on OpenBook is heavily bullish at this writing. Read more
