• Analytics
  • News and Tools
  • Market News
  • AUD/USD to remain fragile near term - Westpac
Market News
16.05.2019, 10:00

AUD/USD to remain fragile near term - Westpac

According to Sean Callow, analyst at Westpac, the kneejerk market response was to focus on the rise in unemployment, with AUD/USD dipping below 0.6900 and market pricing for a June rate cut jumping from 40% to 60%.

“AUD/USD trimmed its losses to a very modest fall but will remain fragile near term. Rate cut expectations were reinforced by a worrying slide in the employment index of the Apr NAB business survey and another quarter of sluggish wages growth. This weekend’s Australian federal election adds to the uncertain outlook. While the local data calendar goes quiet, A$ traders will still have to negotiate a keynote speech by RBA governor Lowe and no doubt daily headlines on US-China trade tensions. Given the domestic headwinds and prospect of no US-China trade breakthrough until at least the end-June G20 meeting, the risks on AUD/USD are skewed clearly to the downside.”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location