As the US China trade war shows no progress, but with talks ongoing, forex traders continue to use the Australian Dollar as a Yuan proxy trade. The Australian economy is heavily dependent on the Chinese one, due to big commodity exports. The AUDUSD has now been pushed into strong support levels, but will they hold with Chinese industrial profits posting their first contraction in three years?
How will today’s US initial jobless claims and housing data impact price action? Will US consumer confidence rebound? Get your AUDUSD trading set-up now only at PaxForex Daily Fundamental Analysis where you earn more pips per trade!
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