2020-12-16 • Updated
Société Générale predicts that the Austrian dollar will rally up in 2021 due to the Australian fast recovery. Indeed, we cannot but agree that the global economy should steadily grow in the next year as vaccinations will start. As a result, the market sentiment will improve, and investors will stream their capitals into riskier assets like the AUD.
Unlike the USA and European countries, Asia-Pacific countries have almost taken the virus under control. That’s why Société Générale anticipates that Australia’s GDP will return to its pre-pandemic GDP level by the second half of 2021. In comparison, other developed countries are expected to regain all current losses by the end of 2021 and 2022.
The CNH and the AUD are positively correlated due to the close trade relations between countries. Although the China-Australian relationship worsened amid the coronavirus, it should improve during the next year as it’s beneficial for both sides. Elsewhere, Biden’s presidency implies a more rational approach to the US-China trade deal. That’s why global trade is now expected to boost in 2021.
AUD/USD has bounced off the resistance of 0.7580. If it drops below the intraday low of 0.7545, the way down to yesterday’s low of 0.7520 will be clear. Since the pair is moving in an uptrend, we can assume that after a short decline, it will reverse and rally up. The breakout of the resistance level of 0.7580 will drive the pair to the key psychological mark of 0.7600.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
