AUD/USD set to move towards 0.74 on a 12-month view after – Rabobank
|In Australia, growth is likely to hold up better than in several other major economies into 2023. Therefore, economists at Rabobank maintain their forecast of a move to AUD/USD 0.74 on a 12-minth view
Relatively better?
“Australia is facing slowing economic growth into next year. However, even with aggressive interest rate hikes from the RBA this year, the 2023 outlook appears more buoyant than in many other major economies including the US, Eurozone and the UK. This bodes well for the medium-term AUD outlook vs. a basket of other G10 currencies.”
“Although we see risk that another bout of safe haven USD buying could push AUD/USD lower on a one to three-month view, we favour buying the currency pair on dips and expect a move to 0.74 on a 12-month view.”
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.