Market news
02.09.2022, 08:42

AUD/USD: Solid fundamentals to lead to some rebound by year-end and into 2023 – MUFG

The Australian dollar weakened modestly in August. Economists at MUFG Bank expect to see AUD weakness for now before recovery in 2023.

Jobs market in Australia will support growth going forward

“We would expect the solid fundamentals to lead to some rebound by year-end and into 2023.” 

“The jobs market in Australia will support growth going forward with the labour participation rate at the highest level in 112 years. Stronger wage growth is likely and that will ensure continued monetary tightening with risks to the upside relative to the RBA guidance.” 

“Economic growth is expected to slow due to tighter policy and slower global growth with the RBA estimating 3.25% growth in 2022 and 1.75% in 2023 and 2024.” 

“More favourable growth in China in 2023 should also help ensure higher AUD/USD levels next year even with growth more subdued.”

 

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location