Fed and commodity prices taking market's attention in a big way - Westpac
The US Federal Reserve and commodity prices are taking the centre stage at present, according to analysts at Westpac.
Key Quotes
"The Fed is widely expected to deliver a follow–up interest rate hike in June, a further step in the process of gradual policy normalisation. Commodity prices have slipped."
"The spot price for iron ore has declined from US$80/t at the end of March to US$60/t, with further downside in our view.”
“Together these developments, which are in line with our expectations, have seen the Australian dollar settle around US74¢ after trading in a relatively tight range of US75¢ to 77¢ over the opening months of this year."
"We continue to expect the currency to trend lower in 2018, heading to around US65¢ by years end."
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
