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Short on Themes Long on Dollars
The AUD is getting little support from oil, which has continued to fall; the WTI is trading just above $49 in early APAC as OPEC deal worries and US inventory data narratives keep resonating within the oil patch. This, despite a relief rally on the better than expected DoE inventory report. $50.00 per barrel is proving a tough nut to crack, and the move quickly faded. US Dollar US economic data was generally USD supportive overnight as the US Services PMI, and new home sales topped market expectations, pointing to stronger Q3 growth.Moreover, the overall US trade deficit came in narrower than expected, but with ... (full story)