Forex Flash: AUD/USD year-end target at 1.08 – Scotiabank

FXstreet.com (Barcelona) - The Aussie dollar continues its relentless albeit slowly upside on Thursday after today’s mixed domestic data, hovering over 1.0430 and printing fresh session highs at the same time.

“Technically, AUD looks poised for further weakness and could face a temporary test down to the December low of 1.0329, however we are bullish over the medium term, as we do not expect an interest rate cut by the RBA, we expect China’s growth to support the Australian economy and we believe that once the current negative AUD flows ease, the currency will be poised for gains. Accordingly, we hold a year‐end forecast of 1.08”, suggests Camilla Sutton, Chief Currency Strategist at Scotiabank.

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 securities. 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 Forex 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.

RELATED TOPICS