AUD: Scope to extend recent gains to the EUR 0.6350/0.6400 - Westpac

Sean Callow, analyst at Westpac, suggests that they see scope for AUD to extend recent gains to the EUR 0.6350/0.6400 or AUD 1.5625/1.5750 area multi-week.

Key Quotes

“AUD has made modest gains against the euro in recent weeks, broadly correlating with improved global risk sentiment as the FOMC hit pause in its tightening cycle.”

“Interest rate markets’ moves to price in RBA easing in response to Australia’s cooler growth outlook have had limited impact against the euro, given the protracted Eurozone growth slowdown.”

“Still, AUD seems to have more upside potential multi-week, with a US-China trade deal of some description likely, commodity prices supportive and Australian data more likely to cool than to inflame RBA rate cut pricing.”



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.

Feed news

EUR/USD slides on USD strength, weak German data

EUR/USD is trading below 1.1350. The German IFO Business Climate slightly missed expectations with 98.5 points. The USD is gaining ground despite progress in US-Chinese talks.


GBP/USD recaptures 1.3000 amid Brexit uncertainty, dollar swings

GBP/USD is trading above 1.3000 once again, as the USD loses ground now. Reports about a potential extension of Brexit are circulating but no progress has been made. Trump meets China's Vice PM Liu later.