- Analytics
- News and Tools
- Market News
- AUD/USD to break below 0.70 ahead of US election - Westpac
AUD/USD to break below 0.70 ahead of US election - Westpac
FXStreet notes that AUD/USD has slided back to around 0.7050. Nerves are understandable ahead of next week’s massive risk events – Reserve Bank of Australia (RBA) and US election results on consecutive days. RBA easing steps should be priced but surely cap A$ rallies while further equity turbulence is likely into and in the wake of US Election Day but the aussie has potential to rebound on a Blue Wave outcome, per Westpac.
“...volatility seems assured even if we do get the market-preferred Blue Wave that would brighten the prospects for US fiscal support both short and medium-term. Such a prospect is one of the assumptions in our 0.75 year-end forecast.”
“Q3 CPI was firmer than we expected but with the RBA placing greater emphasis on actual inflation, we are a long way from the 2-3%yr target – see across. The RBA’s rate cuts to 0.1% cash and 3 year are expected but uncertainty lingers over the shape of a new QE program.”
“Overall, we see risks of a break of 0.7000/10 support pre-election but scope for a sharp rebound if equities recover.”
© 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
