- Analytics
- News and Tools
- Market News
- AUDUSD to struggle to climb back above 0.70 before the end of the summer – ING
AUDUSD to struggle to climb back above 0.70 before the end of the summer – ING
The Australian Bureau of Statistics is set to release the May jobs report in the early trading hours of the Asian session on Thursday. However, the data is unlikely to move the aussie. Economists at ING expect the AUD/USD to stay below the 0.70 level over the next few weeks.
Jobs numbers no game changer
“Australian jobs numbers for the month of May will be released overnight. While jobs markets tended to have a key role in driving rate expectations, we believe that today’s actions by the Fed will have a bigger impact on the Reserve Bank of Australia rate expectations and on the aussie dollar.”
“AUD and RBA dynamics have not moved too much in tandem and we continue to see AUD/USD as mostly a USD and external drivers’ story.”
“With more USD support ahead, we think the pair will struggle to climb back above 0.70 before the end of the summer.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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.
Bank transfers
