AUD/USD to suffer further losses towards 0.62 – Credit Suisse AUDUSD Commodities Banks
AUD/USD touched a new two-year low just under 0.64 on Friday. Economists at Credit Suisse expect the pair to extend its decline towards 0.62.“We remain bearish on AUD, despite the seemingly obvious appeal of a sharp increase in Australian terms of trade. We now target 0.6200 and see AUD/USD trading in a 0.6100-0.6750 range in Q4.”
“Reduced trade with China, due to soft local demand and ongoing diplomatic tension between the two countries, adds to the disconnect between commodities prices and AUD.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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