- Analytics
- News and Tools
- Market News
- AUD/USD to drop gradually over the next months – Danske Bank
AUD/USD to drop gradually over the next months – Danske Bank
The AUD/USD pair tested levels under 0.7100 on Monday. Analysts at Danske Bank see the pair at 0.71 on a three-month perspective, at 0.70 in six months and at 0.69 in a year.
Key Quotes:
“The rally in commodity prices has supported AUD since late January as broad USD strengthening took a step back. Continuing easing from China is especially supportive for Australia’s key export commodity, iron ore.”
“The outlook for commodities remains uncertain, as the global recovery and Chinese easing have supported demand, but more aggressive Fed tightening and broad USD strength should limit the rise in prices.”
“The Reserve Bank of Australia ended its QE purchases in February. RBA highlighted the risks of more persistent inflationary pressures, but also noted that near-term rate hikes remain unlikely. Labor market conditions have tightened, but data released so far does not yet point towards a pickup in wage inflation. First rate hike seems likely in H2 this year, but with the very hawkish market pricing, relative rates remain a drag on AUD.”
© 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
