Via an analyst note from TD on the Australian dollar
AUD is "vulnerable to a shift in the narrative between the U.S. and China"
- tensions rising - spotlight on the upcoming trade discussions and broader political dialogue
- a trade war coupled with the uncertainty over the economic outlook and what is ahead
(I'll just add, rising tension with China being bearish for AUD is not a fresh piece of news, see recent posts from past weeks for example).
Anyway, more:
- TD short AUD/USD from 0.6480, target 0.6175, stop 0.6680
- likes the "longer-term structural story" for AUD,
- but is moved up too quickly
