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- AUD/USD set to continue south as virus seasonality hits Australia – Nordea
AUD/USD set to continue south as virus seasonality hits Australia – Nordea
FXStreet reports that economists at Nordea said that the aussie is expected to continue losing ground in the coming weeks.
“The Chinese credit impulse is likely to continue losing steam, commodity prices might thus start to cool (an unwind of the doom loop), then there’s RBA vs Fed, and Fed is clearly the more hawkish of the two – letting yields rise.”
“Countries such as Australia and New Zealand will have to remain under very strict border-control to prevent a winter-surge in the virus from May and onwards, and judging from the pricing of global central banks, one could argue that RBA is priced more aggressively than RBNZ, leaving AUD more vulnerable to a negative virus seasonality on the Southern Hemisphere compared to the NZD.”
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