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Some financial analysts suggest that the Australian dollar might ascend versus the Chinese Yuan within the coming weeks.
The currency pair AUD/USD hasn’t left a 3% range since mid-January. The pair should remain quite intact between approximately 0.74- 0.77. Obviously, it has been edged down as iron ore prices decreased, and waves of risk aversion hit, following tensions in the Korean peninsula. However, the pair is expected to be underpinned by trade surpluses as well as a steady RBA outlook, to say nothing of domestic data.
Over the next several weeks, experts see the greenback soaring more against the major Chinese currency than the AUD. Upbeat surge and trade and surges in equity market have seen Asian currencies going up, even versus a backdrop of higher American yields. It feels like the Chinese currency has underperformed. Meanwhile, the AUD has remained quite resilient. Therefore, analysts see AUD/CNY heading north towards the 5.25/30 area within the coming weeks.
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week…
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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