- Analytics
- News and Tools
- Market News
- AUD/USD: No confidence for a sustained return over 0.70 in the short-term – SocGen
AUD/USD: No confidence for a sustained return over 0.70 in the short-term – SocGen
The AUD languished in Q1 and indifferent price action marked the start of Q2. Economists at Société Générale expect AUD/USD to remain below the 0.70 mark.
RBA kept policy rate on hold
“The RBA kept rates unchanged as expected but wild swings in US bond yields and the mixed start to April for Chinese assets (HSCEI) and industrial metals do not inspire confidence for a sustained return of AUD/USD over 0.70 in the short-term.”
“The next signposts for the AUD besides US bond yields and Chinese data is the Statement on Monetary Policy and updated macro forecasts on 5 May. This follows the next rate meeting on 2 May. In February, the RBA revised up wage growth for this year to 4.2% and core inflation to 4.3%. The growth forecast for this year was revised up to 1.6%.”
“The minutes of the last meeting will be released on 18 April. The level of unanimity or discord around the April pause will give us a better indication of the likelihood that rates have peaked.”
© 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
