AUD/USD: Hard landing fears and RBA to weigh on the aussie – MUFG – by MSalordFX AUDUSD Currencies Majors
falling back toward 0.6000 from current levels on the back of global recession fears, and a wider divergence between the Federal Reserve and the Reserve Bank of Australia . “We continue to expect the USD to strengthen further in the near-term as global financial conditions continue to tighten. The much stronger-than-expected US CPI report for September has reinforced our view that it is premature to expect a dovish Fed policy pivot.
“The sharp tightening of financial conditions will reinforce fears over a hard landing for the global economy which is dragging raw industrial commodity prices closer to bear market territory. The RBA acknowledged that global slowdown risks are becoming more important in setting monetary policy at their last policy meeting, and slowed the pace of rate hikes. A wider policy divergence between the Fed and“We expect the AUD/USD to fall back towards the 0.
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