European pre-market: Aussie lags on softer GDP data

Author: Justin Low | Category: News

The aussie is weaker after Q3 GDP data continues to hint at general softness in the Australian economy in 2H 2019

WCRS 04-12
ForexLive
That is the main story in trading so far with US-China tensions also making the headlines via the passing of another human rights bill in the US in relation to Xinjiang earlier today.

Besides some mild weakness in the aussie, the rest of the major currencies bloc remains more subdued with narrow trading ranges still prevailing for the most part.

Dollar pairs are sitting within 0.1% change as we begin the session and the risk mood is also more balanced after trade worries weighed on sentiment yesterday.

US futures are keeping flat with a similar mood seen in bonds, and that is keeping markets more steady in general to start European morning trade.

Looking ahead, economic data impact should be minimal in the session ahead so we could see limited action for now before we get to North American trading - where there is US ADP employment and ISM non-manufacturing data as well as the BOC meeting.

As such, continue to pay attention to the risk mood as market participants continue to err on the side of caution amid some jitters surrounding US-China trade.

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