The Australian dollar has been performing well but December has been a turbulent month with fresh concerns over the Trade Wars and global trade weighing on the currency.
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As a ‘commodity currency’ the Australian dollar will rise and fall according to sentiments on global trade. Growing fears that China, Australia’s largest partner will struggle in the future could see the Aussie coming under more pressure in the future.
The next week leading into the New Year may see some volatile positions on the Australian dollar as investors buy and sell it according the slightly abnormal trading conditions. Investors may be fearful to be holding such a volatile currency (when compared to say the US dollar or Euro) over the Festive period.
Investors may well have sold off the Aussie leading into the bank holidays to protect themselves from any unexpected movements.
Donald Trump’s tweeting over the US Government shutdown and other fears over the Trade Wars going into 2019 may put the Aussie in the spotlight, as a reflection of the market dissatisfaction with the direction global trade might be taking.
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