RBA Deputy Gov warns on self-fulfilling global downturn

Aussie lifted up after falling in the last session as investors rushed in haven-currencies amid mounting fears over the global recession. Yen strengthened against most of the peers. Aussie gained on positive employment data. 41.1K jobs were added in July. Reserve Bank of Australia Deputy Governor Guy Debelle spoke early Thursday saying the US-China trade war could severely damage the global economy. He said it could trigger a self-fulfilling global downturn. Investors are delaying their business decisions and thus reduce their activity. Instead of investing in the global market they are forced to choose between West and East. Pair is hovering around January low, struggling to keep above the 72.00 level. Support is found at 71.000 with the resistance set at 73.00.