AUD/USD to edge lower towards 0.72 amid dovishness of the RBA – Rabobank
|AUD/USD has been trending lower since the start of the month. As the Reserve Bank of Australia (RBA) is set to maintain a dovish stance, economists at Rabobank expect the aussie to tick down towards 0.72.
AUD/USD to struggle to recover the lost ground
“The RBA’s central forecast for the Wage Price Index is for an increase of just 2.5% in 2022 and 3% in 2023. Underlying inflation is expected at 2.25% in 2022 and 2.5% in 2023. The central message remains a dovish one.”
“Assuming the RBA reiterates a cautiously dovish message in its next policy meeting AUD/USD could struggle to win back ground.”
“We target a move to 0.72 on a three-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.