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Fundamental Forex Analysis

China’s Vice Premier Liu: Economy has gradually improved

China’s Vice Premier is Liu He is on the wires now, via Reuters, making some comments on the economic outlook and policy measures.

Key quotes

“Economy has gradually improved.”

“Various economic indicators have shown marginal improvement.”

“China is maintaining appropriate levels of overall liquidity.”

“China will increase crackdown on financial fraud to protect investors.”

“Will support Hong Kong’s position as a key financial centre.”

“Will firmly support reforms and opening up.”

“China, US should jointly create conditions and atmosphere to implement phase 1 trade deal.”

“China’s prudent monetary policy should be more flexible.”

“China should strengthen counter-cyclical adjustments in economic management.”

“Will keep aggregate policy appropriate, keep liquidity reasonably ample.”

AUD/USD remains pressured

AUD/USD is off the lows but not out of the woods yet, in light of the poor Australian jobs report. The aussie buyers appear to find some respite from the PBOC rate cut. 

The spot now recovers to 0.6850 following a dip to 0.6838 some minutes ago. 

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