AUD/USD 0.6600 a near term obstacle

Author: Eamonn Sheridan | Category: News

Some comments on the outlook for the Australian dollar via Westpac

In summary:

To end this week:
  • Upward momentum has slowed
  • 0.6600 a near term obstacle
Further ahead for coming weeks:
  • revival in global equities to early March levels has driven the Aussie to 0.66
  • Aggressive central bank policy settings should help ensure A$ does not return to the sub-0.60 trade of late March
  • in coming weeks the reality of a tepid global recovery in H2 2020 and woeful earnings reports are likely to chip away at risk sentiment. Scope for 0.62 end-June.
  • AUD is threatened by global risk appetite over the coming weeks

See here for global coronavirus case data
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