
Russian-Ukrainian conflict is influencing every economic aspect…
The AUD/USD pair tested the support at 0.7380. 50-hour MA is near to cross the 200-hour MA that is a negative signal for the pair. If today the pair closes below the support, the further fall is anticipated. No important economic data will be released.
A forecast for the aussie isn’t encouraging. The banking group doesn’t see any driver for the AUD because of an uninspiring domestic data flow and a negative perspective on a rate hike. Moreover, trade wars tensions continue to weigh on the AUD. Risks of the housing market may put pressure on the Australian dollar as well. As a result, a fair value for the Australian dollar is 0.73 (let us remind that up to now, AUD/USD is near 0.7380).
ING has also represented its point of view on the Australian dollar. The main threat for the Australian dollar is the US policy. Firstly, the higher short-term US rates weigh on the aussie with the lower interest rate. Secondly, US tariffs on Chinese exports put pressure on the AUD. As a result, the forecast of the company is a consolidation within 0.7400-0.7600 until there are some directional catalysts.
That is all for today. Follow markets news with us!
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
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