The Australian Dollar was in recovery mode through the midweek session following news China would likely announce a major fiscal stimulus on the weekend.
The Australian Dollar is under pressure as markets show disappointment that a Chinese fiscal stimulus has not materialised and a change in tone at the Reserve Bank of Australia's communications.
It's not too late to participate in the China stimulus rally, and the Australian Dollar is a good currency for this purpose.
Australian Dollar a Sell at Danske Bank
- Category: AUD
Now is the time to sell Australian Dollars, according to a new strategy note from Danske Bank.