The Yuan has served to undermine all of the gains in the AUD generated by yesterday’s good employment report.

Could slowing inflation cause the Bank of England to rethink the prospect of an August rate rise?

The move higher in front end yields boosted the USD, although the greenback was already on the ascendency early in the overnight sessions.

Trump in Helsinki and the EU in Beijing didn’t really move markets but the dissent in the UK has weakened the pound.

China’s M2 money supply grew less than expected on Friday.

Whilst Trump is overseas, the stock market has rebounded from yesterday’s falls, whilst Brent Crude continues to fall.

The US has imposed extra tariffs on Chinese imports. Gavin Friend discusses the market reaction.

Forecasts broadly unchanged but new risks to watch.

The next battle for Theresa May is in Brussels – will the EU accept her proposal, at least as a starting point? Plus, US ‘poised’ to release $200bn China tariff list, puncturing risk-positive offshore sentiment.

In June, the AUD/USD saw a new year-to-date low – a level last seen in May 2017 | Over the fiscal year the AUD/US traded between a high of 0.8136 and a low of 0.7311.

The NAB Rural Commodities Index gained 1.4% month on month in June, following a 3.1% gain in May. On a year on year basis, the index was down 2.9% in June. The monthly gain reflects strong lamb, wool and cotton prices.

The markets outside of the British Isles have seen some positive sentiment, including Australia.

Theresa May has presented her Brexit strategy with the full support of her cabinet, apparently.

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