Market news
29.06.2021, 12:05

AUD/USD may plummet towards 0.7245 as RBA can turn dovish amid lockdowns - TDS

FXStreet notes that the aussie is under notable pressure today as the latest batch of lockdowns across Australia have some questioning the RBA’s moves next week. Economists at TD Securities think near-term risks probably still remain skewed to the downside for AUD/USD.

“The AUD is among the day's worst performers as the latest lockdowns across Australia have now stretched to nearly half the population.” 

“The country's relative sluggishness on the vaccine front has fueled some speculation the RBA could deliver a dovish surprise at next week's policy decision. Policymakers are due to decide on whether to extend its YCC target to the November 2024 bond and the shape of their QE program going forward.”

“We continue to expect the RBA will hold to the current April 2024 maturity target and to a QE3 program of ‘up to A$100bn’.”

“We note that AUDUSD's post-FOMC bounce from 0.7475 ran out of steam at 0.7617 last week. With the aussie now back below the 200-DMA (0.7565), we think near-term risks probably still remain skewed to the downside.”

© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location