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AUDNZD: Intraday Analysis & Setup update

The Australian and New Zealand dollars slipped on Monday, guided lower by yuan weakness amid increasing deflationary pressure in China, while traders await a week packed with central bank meetings to keep buying into their interest rate-cut hope. Looking ahead, the Antipodean currencies face critical tests this week from U.S. inflation data on Tuesday, a Federal Reserve meeting on Wednesday and Australian labour market data on Thursday. Markets are already pricing in an easing of more than 100 basis points from the Fed next year.

New Zealand will report third-quarter economic growth on Thursday, with analysts expecting gross domestic output to have expanded by a tepid 0.2% from the previous quarter’s 0.9%.

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