Previous risk-on sentiment has now been challenged with potential US sanctions on China and protests in Hong Kong. China is also expected to impose coal import restrictions which will likely negatively impact the AUD. Beijing has already put an import ban on Australian beef and applied tariffs on barley. If coal import restrictions are put in place, markets are expecting to the Aussie dollar to fall again.



The US Dollar gained slightly yesterday, as the weight of mounting tensions between the US and China pushed the Dollar higher. Risk currencies fell slightly lower losing 0.4%. Looking ahead, Jobless Claims for last week, GDP for Q1 and Durable Goods Orders for April will be released from 8.30pm (SGT) tonight.


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