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The Aussie recovers from early week damage due to weak Australian updates, thanks to a big hit to the Greenback and a rise in global risk sentiment.

Australian Headlines and Economic data
Monday:
- Australia job ads rebound in June by a seasonally adjusted 4.6% vs. a -8.6% fall in May , trend still weak
- Aussie pairs ticked lower during the U.S. trading session, possibly on weakening global risk sentiment as geopolitical tensions rise in the Middle East (concerns over Iran restarting uranium enrichment)
Tuesday:
- Australia business confidence falls back in June – with a relatively quiet calendar and news cycle in the currency world, it seems that this update had a lasting bearish affect on Aussie pairs well into the U.S. trading session.
Wednesday:
- Aussie pairs take a small dip to the downside, likely on a combination of news that Australian consumers being the most pessimistic in two years, despite tax and interest rate cuts and China’s producer prices stall in June, fueling fears of deflation
- Somewhat of a broad bullish move higher in the Aussie against the majors, likely the back of Fed Chair Powell’s comments on the session that virtually guaranteed in traders’ minds that a rate cut was on its way at the end of July. This not only supported the Aussie as an anti-dollar trade, but also from a global risk-on sentiment angle as well through out the rest of the week.
Thursday:
- In seasonally adjusted terms, lending commitments to households fell 1.3% in May 2019, following a 0.6% rise in April
- Australia’s rate cuts, tax rebate helping economy, says central bank governor
Friday:
- It looks like Aussie pairs saw one last broad bullish push higher during the U.S. session after a slight pullback during London trading, despite a slew of positive economic updates from China earlier in the session, including a China June trade surplus with U.S. rising 11% to $29.92 billion. This is likely on more Fed rate cut rhetoric from Fed members pushing the Greenback lower into the weekend.