OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD door open to further downside – Westpac

FXStreet (Edinburgh) - Analysts at Westpac Global Strategy Group expects the pair to keep marching south, albeit at a slower pace.

Key Quotes

“Having tumbled 6 cents in three weeks, AUD/USD seems due for at least a slower pace of decline”.

“Yet USD sentiment is likely to hold firm in the week ahead, while news flow from China won’t improve in a hurry, leaving commodities struggling”.

“The domestic story is not dire, with upcoming data likely to be at least mixed and markets not serious about another RBA rate cut”.

“So we see limits to how much further AUD ‘should’ fall. The Jan lows of 0.8660 seem too close not to be tested but on a multi-week basis, we like AUD higher versus e.g. EUR, NZD and (probably) JPY.

US: PCE (Aug) rose 1.5% YoY

The US Commerce Department informed that the US inflation, measured by the Personal Consumption Expenditures, rose 1.5% YoY during August, a ...
Read more Previous

Austria Purchasing Manager Index dipped from previous 50.9 to 47.9 in September

Read more Next
Start livechat