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Business / Finance

The foreign exchange market. Australia does not need an expensive currency

Forex Club 26.07.2017 at 10:11

AUD/ USD for several days can not cope with strong resistance in the area 0,7980. And may have already started to prepare for the reversal. The only obstacle in her way – the weakness of the US dollar.

Today the Australian dollar has come under pressure for two reasons: weak inflation and subdued comments of the head of the Central Bank of Australia. We warned last week about it. In terms of growth of the national currency, slowing inflation and, therefore, there is no need to further increase rates.

Given the export and tourist activity of the country, the expensive currency of Australia is not needed. And it talked about it today the head of the Reserve Bank Philip Lowe. He stated that it makes no sense to follow the example of other Central banks in raising rates. Isn't that a hint that tightening will not. And isn't it a reason to sell AUD?

If the fed today will confirm its aggressive mood, the AUD/ USD can go down with the primary aim at the level of 0,7840 further 0,7800.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee results.

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