- Analytics
- News and Tools
- Market News
- AUD/USD to suffer pullbacks to around 0.70 or below during June – Westpac
AUD/USD to suffer pullbacks to around 0.70 or below during June – Westpac
AUD/USD pair is witnessing a modest downside move after failing to sustain above 0.72. Economists at Westpac believe that the aussie could sustain pullbacks to 0.70 or even below in June.
A recovery to 0.74 or higher in Q3 remains likely
“The economic ripples from Russia’s invasion of Ukraine continue to underpin energy prices, strengthening the outlook for Australia’s already large trade surpluses. But the aussie remains at risk against a US dollar backed by the Fed’s determination to frontload rate hikes and shrink its balance sheet, a notably more aggressive tightening stance than the RBA.”
“Equity markets have helped AUD/USD recently but are hardly on a firm footing, so pullbacks to around 0.70 or below during June would not surprise.”
“A recovery to 0.74 or higher in Q3 remains likely. Australian growth should be swift in Q2 and Q3, supporting pricing for RBA tightening, while China’s policy focus will once again to infrastructure-led growth.”
© 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
