Monday 12th October 2020
The US dollar hit a two and a half year low on Friday, whilst the Chinese Yuan showed big gains. NAB’s Tapas Strickland said the dollar fell on expectations of a Biden victory, which could see increase government spending to tackle the economic impacts of COVIDS-19. The Yuan gained ground as the Caixin Services PMI came in strong. This week was to be the week when a Brexit deal would finally be agreed, but why rush into these things? Talks are likely to continue into November. This week Australian investors will be looking to RBA’s Philip Lowe’s speech on Thursday for suggestions about the easing policy that is likely to be introduced in the November meeting.