- Latest Australian GDP data shows slower than expected growth
- China commerce minister says Yuan at appropriate levels
- Takes aim at US trade policies against China
- Japan FX reserves fall from record highs
- UK shop price inflation edges lower
- UK permanent job growth improves
- Regional stockmarkets fall by 0.75% on average
- Gold $1675/oz; Oil $105/bbl
Once again it was the AUD at the centre of attention, as poor GDP data sent the AUD lower across the board. AUD/USD fell towards 1.0500 but Sovereign buying ahead of a barrier helped limit losses. The GDP data will renew calls for a rate cut next month and the escalating Chinese rhetoric regarding the Yuan and also possible trade restrictions, didn’t help Aussie sentiment. EUR/AUD also made some modest gains on short-covering. Ranges: 1.0505/72
USD/JPY has had a choppy session inside a 40 pip range with cross flows again the main factor. Ranges: 80.56/94
EUR/USD was bolstered by Sovereign buyers at 1.3100 and the presence of these were enough to encourage some mild EUR/JPY and EUR/AUD buying as well. Rallies were slow and lacked any strong momentum. Ranges: 1.3110/50
Cable 1.5708/39; EUR/CHF 1.2045/55
