Skip to content AUDUSD Holds Steady Despite China’s Stimulus Shortfall
On Monday, the Australian dollar stabilized around $0.658 after experiencing a sharp 1.4% decline in the previous trading session. This earlier drop happened because China’s recent stimulus measures didn’t meet the market’s expectations.
Specifically, on Friday, China unveiled a debt package totaling 10 trillion yuan. This package aims to help local governments with financing and to boost slow economic growth. However, China did not introduce direct economic stimulus, which left some investors disappointed.
Global Economy at Risk with Potential Trump Presidency
Meanwhile, investors are resurfacing with concerns about how a potential Donald Trump presidency could affect the global economy, especially about China. This uncertainty is drawing attention back to the possible global implications.
Australia Awaits Key Wage and Jobs Data This Week
In Australia, traders look forward to important economic reports due this week. The third-quarter wages report will be released on Wednesday, followed by the monthly jobs data on Thursday. These reports are crucial as they will influence expectations regarding future interest rate decisions.
Watch Michele Bullock in the Regulator Discussion on Thursday
Additionally, Michele Bullock, the Governor of the Reserve Bank of Australia, will also join a panel discussion with other regulators on Thursday. This event adds even more significance to the week’s agenda and will likely be closely watched by market participants.
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