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Money The Australian dollar has fallen sharply as trade fears flare again

11:16  11 july  2018
11:16  11 july  2018 Source:   businessinsider.com.au

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In recent trade , the AUD /USD has fallen as much as 0.4% to .7428. Given the late-breaking news, trade headlines look set to dominate Australia will release housing finance data for May at 11.30am AEST. Like most other housing indicators at present, loans to owner-occupiers are expected to fall 2%.

The Australian dollar came under pressure on Tuesday, losing ground against all major crosses except the Canadian dollar . Here�s the scoreboard at 7.40am trade , the AUD /USD initially popped higher following the release of a subdued US CPI report for February, hitting a session high of .7897.

The Australian dollar is seen amongst other Australian coins.© Dave Hunt/AAP Image The Australian dollar is seen amongst other Australian coins. The Australian dollar was on track to close flat to higher on Tuesday, mirroring continued continued gains in other risk assets during the session.

However, that all changed just minutes ago following reports the United States is poised to publish a list of $US200 billion in new tariffs that will be applied on Chinese imports entering the country.

The trade war has escalated, as Trump promised prior to the introduction of the first round of tariffs late last week.

Here's the scoreboard as at 7am AEST.

AUD/USD 0.7459 , -0.0007 , -0.09%

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The Australian dollar fell sharply across the board as trade war fears flared up again on Tuesday. Reports that President Trump is considering a crack down on Chinese AUD /USD made new 2018 lows on the heels of the news and EUR/ AUD rallied to its highest levels since February of 2016.

Shares in Asia fell sharply and the euro sank to a 10-month low against the US dollar as concern about the political turmoil in Italy spread through international financial markets on Wednesday. Renewed fears of a trade war between the United States and China also contributed to the negative

AUD/JPY 82.83 , 0.08 , 0.10%

AUD/CNH 4.9583 , 0.0143 , 0.29%

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The Australian dollar fell sharply across the board as trade war fears flared up again on Tuesday. Reports that President Trump is considering a crack down on Chinese AUD /USD made new 2018 lows on the heels of the news and EUR/ AUD rallied to its highest levels since February of 2016.

The Australian dollar has had a sobering fall from grace, currently at its lowest level in almost seven years The Australian dollar continued to slide against the greenback on Wednesday, falling to the lowest level seen this year. The Australian dollar fell in overnight trade , pressured by a strong

AUD/EUR 0.6350 , -0.0002 , -0.03%

AUD/GBP 0.5620 , -0.001 , -0.18%

AUD/NZD 1.0911 , -0.0007 , -0.06%

AUD/CAD 0.9777 , -0.0002 , -0.02%

After dipping in Asia, the Aussie clawed higher in European and US trade, bolstered by continued gains in stocks.

However, that all changed late in the session as news hit that the US is about to announce new tariffs on Chinese imports.

According to Bloomberg, citing two unnamed sources familiar with the matter, the list could be released within the next few hours.

Before the US introduced $US34 billion worth of tariffs on Chinese imports on Friday, US President Donald Trump had pledged to announce additional tariffs should China respond with reciprocal tariffs of their own on US imports.

They did, and now Trump appears set to follow through with his threat.

Risk assets, including the Aussie, reacted negatively to to news, losing ground as soon as the news broke.

AUD/USD 5-Minute Chart© Provided by Supplied AUD/USD 5-Minute Chart In recent trade, the AUD/USD has fallen as much as 0.4% to .7428.

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The Australian Dollar is trading slightly lower early Friday following yesterday’s sharp break. Because of this, the market is experiencing a bit of pressure on the top but eventually, it will start to rally again The Australian dollar has pulled back slightly to kick off the week but turned around as the

The dollar fell on Monday, hurt Friday that seemed to suggest a slower pace of monetary tightening " The Australian dollar rose just as much as it shed quite a lot over the past week due to domestic The Aussie dollar cannot stand aloof from fears of a U.S.- China trade war and the Reserve Bank of

Given the late-breaking news, trade headlines look set to dominate Wednesday's trading session, making data releases near-irrelevant for market direction.

Australia will release housing finance data for May at 11.30am AEST. Like most other housing indicators at present, loans to owner-occupiers are expected to fall 2%.

Westpac will also release its Australian consumer sentiment report for July at 10.30am.

Wayne Byres, APRA Chair, will also deliver a highly-anticipated speech on Australia's housing market from 1pm AEST.

Outside of Australia, other headline releases today include US producer price inflation and wholesale inventories.

The Bank of Canada (BoC) will also meet with the bank expected to lift its official interest rate by 25 basis points to 1.5%. The announcement will hit at midnight AEST.

There's also a plethora of central banker scheduled to speak with Draghi from the ECB, Carney from the BoE and Bostic and Williams from the US fed all in action.

Despite the busy calendar, trade tensions still look set to dominate outside the BoC decision.

In particular, the performance of Chinese markets, especially the Chinese yuan, could prove to be influential in Asian trade.

Australia, New Zealand dollars dip on China slowdown worries .
<p>The Australian and New Zealand dollars eased slightly on Monday on news China had posted weaker-than-expected industrial production for June, raising fears of a slowdown there.</p>Load Error

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