OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: AUD/USD year-end target at 1.0400 – Scotiabank

The Aussie dollar is hovering over 1.0235/40 on Tuesday, just pips lower from session highs above 1.0250 after positive domestic data and the decision of the RBA to leave the lending benchmark intact at 3.0% have bolstered the upside.

Camilla Sutton, Chief Currency Strategist at Scotiabank, remarked, “… the approaching peak of the mining boom remains a concern and AUD remains high. We expect that 3.0% proves the floor in Australian interest rates and that this in turn will help to support AUD”.

“We hold a year-end AUD target of 1.04”, concluded Sutton.

Forex: AUD/USD remains capped by 1.0250

The Australian dollar holds onto gains versus the greenback although despite the global stocks' rally, AUD/USD remains capped by the 1.0250 resistance area.
Read more Previous

Forex: USD/MXN loses impetus, back to lows

The Mexican peso is picking up pace against the greenback on Tuesday, partially recovering initial losses and dragging the cross to the vicinity of session lows around 12.7200...
Read more Next
Start livechat