“Delegation will be sent to the US for talks in late August” and “The delegation will be led by Vice commerce minister and meet US team led by Secretary of the Treasury” – its stated in a statement of China’s ministry of commerce. Also, we could see the USD weakening somewhat temporarily.
In other news we could get the UKs Retail Sales growth rates (European morning) and the number of housing starts and the Philly Fed manufacturing index (American session).
AUD/USD broke the downward trend line and tested the 0.7265 (Asian session). We see the case for the pair to start slowly rising as the USD could weaken. We could see the pair breaking the 0.7265 resistance line and aim for the 0.7325 resistance area. On the other side, we could see the pair aiming if not breaking the 0.7200 support line.