The Reserve Bank of Australia (RBA) softened its dovish view on the economy after the summer when headlines of a possible soft landing in China and declining terms of trade shifted the focus onto the vulnerable Aussie dollar. AUDUSD sustained a nice rise after recent China data came out ahead of market expectations, but domestic data did not suggest that Australia was out of the woods.
That could be changing now as recent confidence and employment data point to a modest improvement, which could keep the RBA satisfied for the remainder of the year at least.
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