Market Update – 20th May 2016 – G7 Kicks Off In Japan, Aussie Stable Above 0.7200

  

The Aussie dollar is little changed since yesterday and over the course of the week AUD/USD has dipped around 20 points while AUD/GBP is the biggest loser down over two percent since Monday morning. AUD/EUR has bucked that trend and has in fact rallied through the course of the week but only marginally.

The latest G7 Summit kicks off today in the Japanese coastal town of Ise-Shima and will have a strong focus on monetary and fiscal policy. Considering the nations involved in this particular summit all have near zero or negative interest rates then it is probably quite a timely discussion. I wouldn’t think the G7 Summit will have much impact on markets or the Aussie dollar and hence with no other data due its likely to be a pretty quiet day.

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