AUD falls on China fears, USD down on doubts about Fed; US housing starts

Tuesday, 20/11/2018 | 10:30 GMT

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Market Recap
The main movement in the FX market, as you can see, was the decline in AUD. I’d like to say that it was because of something in the RBA minutes out overnight or Gov. Lowe’s comments, but in fact, it was pretty steady during the day. That suggest to me that it was simply a continuation of the fears over the impact of the US-China trade dispute, which flared over the weekend after US VP Pence’s comments about China.
There was also some talk in the market that AUD was sold vs NZD on news that NZ milk production rose 6.5% yoy in October, the strongest October production in at least five years. The weekly milk auction will be held later today. As you can see from the graph, the two currencies certainly diverged today.

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Source: https://www.exclusivecapital.com/aud-falls-on-china-fears-usd-down-on-doubts-about-fed-us-housing-starts/

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