- Analytics
- News and Tools
- Market News
- AUD/USD set to move downward from 0.7190/50 as Fed signals faster tapering – Westpac
AUD/USD set to move downward from 0.7190/50 as Fed signals faster tapering – Westpac
On Friday, AUD/USD is neutral in the mid-0.71s. Economists at Westpac believe this area is set to cap the aussie. They expect the pair to move back lower from here as now the Federal Reserve is set to accelerate taper in its next week’s meeting.
Fed’s taper to be accelerated, making room for rate hikes
“Sticking to the theme that the 0.7150/90 region should cap the aussie. The recent sharp bounce has worked off a very oversold technical position and that should open the way for AUD/USD to drift lower into next week’s raft of central bank meetings.”
“The default of Evergrande, though not new news, adds to the list of negatives including the very rapid spread of the Omicron variant; ongoing tension on the Russia/Ukraine border; weakness in Turkey/EM currencies; the likely more aggressive taper announcement and dot plots set to signal rate hikes next year from the Fed next week and the still strong USD all suggest that the aussie should weaken from the 0.7150/90 region.”
© 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
