AUD/USD to see a strong recovery into the new year – ING
|The cross-fire that had hit the Australian Dollar throughout August (combination of high US rates and plummeting Chinese sentiment) has not ceased since the start of September. Economists at ING analyze AUD/USD outlook.
Still looking for a bottom
Moving ahead, we expect the US growth/Fed easing, and in turn, the global USD story, to be the key driver of AUD/USD. This is not to say that China will be put on the backburner, but a lot of the deterioration in Chinese growth is already priced into AUD, and things may gradually improve from here with monetary and fiscal stimulus being deployed in Beijing.
AUD/USD may still be searching for its bottom, but we still like a strong recovery into the new year, in line with USD decline story.
AUD/USD – 1M 0.63 3M 0.65 6M 0.68 12M 0.72
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.