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- AUD: Scope for further weakness in near term - Danske
AUD: Scope for further weakness in near term - Danske
eFXdata reports that analysts at Danske Research discuss AUD outlook.
"The weakening risk sentiment and the decline in iron ore prices weighed on the AUD yesterday. Australia's rising Covid-cases and lasting lockdowns are starting to be visible in economic data, as although the July unemployment rate fell to 4.6% (from 4.9%), the decline was driven by a drop in labor force participation rate, and the number of full-time employees actually declined."
"The combination of near-term domestic uncertainty and weakening demand outlook for Australia's key export commodities signals further weakness for the AUD," Danske adds."
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