- Analytics
- News and Tools
- Market News
- EUR/AUD to move towards 1.67 by September - Westpac
EUR/AUD to move towards 1.67 by September - Westpac
FXStreet notes that so far in Q3, the Aussie’s performance has been quite mixed, with the euro among the G10 currencies gaining on A$. The EUR/AUD pair is trading near 1.65 and economists at Westpac forecast the cross at 1.67 by September.
“Euro outperformance appears to be at least partly inspired by the July agreement on the EU Recovery Fund, with the ‘frugal’ minority willing to compromise with the majority who notably were led by Germany. The EU is keen to talk up the scale of the fiscal support compared to the US and China, though ratification will take months.”
“Europe’s Covid-19 trends are mostly encouraging, allowing for some resumption of travel. Australia’s economic recovery, in contrast, will be slowed notably by the Victorian virus resurgence and resultant Stage 4 restrictions.”
“We assume that the optimism over European cooperation persists for now, leaving EUR/AUD trending towards 1.67 by September, but with the Aussie then grinding higher in Q4 and in 2021.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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.
Bank transfers
