AUD/USD got a boost from the stronger than expected fix for the onshore yuan earlier:
People's Bank of China sets yuan reference rate at 6.8930 (vs. yesterday at 6.8925)
A bit of surprise at the USD/CNY reference rate setting today - AUD pop
And then the headline confidence data was much improved:
But, if you checked out that 'confidence' post the details were not good at all:
- Business confidence only a just-above-average read
- conditions weakened further … well below average
- decline in trading and profitability
- employment index notably weaker than 3 months ago … unlikely to see further reductions in the unemployment rate
AUD not happy, back towards session lows as I update:
