Australian Dollar (AUD) dipped under 1.0400 briefly but strong buying has seen the uptrend resume during the US session and we are close to the 1.0440 resistance. Falling expectations that the RBA would be cutting rates has changed the feel of the AUD and the soft landing for China’s economy has put the focus back on the topside. Looking ahead, Update Q3 New Zealand Retail Sales forecast at 2.1% vs. 4.8% previously.
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