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Dec 09 - 05:55 PM

AUD/USD - Basks In China Stimulus Vow, RBA Rate Decision Key

By Krishna K  —  Dec 09 - 05:10 PM
  • AUD/USD opens 0.7% higher after trading in a 0.6380-0.6471 range Monday

  • Rallied on China's vow to ramp up stimulus to spur growth in 2025

  • China changes monetary stance to 'appropriately loose' from 'prudent'

  • Fiscal policy to be more proactive; analysts say announcement "significant"

  • Commodities jump on announcement, lift AUD; NYK copper +1.5%, iron ore gains

  • RBA rate decision in focus; c.bank to hold rates, may soften hawkish stance

  • Resistance 0.6483-93, support 0.6420, 0.6400, 0.6380, major 0.6348-0.6362

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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