Following almost 6-weeks of sideways movement, the AUD/USD market broke through resistance levels around 0.7070-80 (highs of July 2019) and climbed higher. Patrick Bennett from CIBC Capital Markets forecasts the aussie trading at 0.70 and 0.72 by the third and fourth quarter respectively.
Key quotes
“The driver for gains has been a combination of upbeat messaging from the RBA, demand for Australian bonds by Japanese investors, broad global risk appetite underpinned by policy support and a related weaker USD environment. Considering those positive factors, it is not difficult to anticipate further gains from present levels. We have therefore revised our forecasts higher.”
“Still, the escalation in virus cases in the state of Victoria, and lurking tension between Australia and China, are risks to the outlook. Our medium-term view is to be buyers of weakness in the AUD, not to chase the market higher from already rich levels.”
Reprinted from FXStreet.com，the copyright all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.