Australia Unemployment Rate

The Australian Dollar ran up on widening yield differentials and commodity tailwinds. If those conditions ease, where will that leave AUD/USD?

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The Australian Dollar rebounded sharply last week after Chinese authorities’ pledge to support the economy boosted market sentiment. A robust Australian jobs report also lifted the commodity currency.

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Australia's central bank lowered its benchmark rate by a quarter-point for the second time this year as risks to inflation became more balanced, while uncertainties regarding economic outlook increased due to trade protectionism measures. The policy board of the Reserve Bank of Australia, governed by Michele Bullock, decided to cut the cash rate target to 3.85 percent from 4.10 percent.

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