According to Rob Carnell, Chief Economist at ING suggests that we should get ready for an AUD figure of 0.6-something and they’ve pencilled in a potential trough point for the pair around 0.68-0.69 over the next few months. Key Quotes “It’s more a reflection that we think more things are likely to go wrong (US-China trade war, geopolitical uncertainties, global stock market correction) – rather than right over the next few months. Indeed, Rob notes that the AUD’s weakness is more than just a China story – it’s been all about the slowdown in global activity in 2018 (one that FX markets were not positioned for) that’s weighed on the archetypal activity currency that is the Aussie dollar.” “The RBA is quite happy with a weaker AUD – and despite some likely good inflation data next week (3Q CPI due Wed), we doubt that investors will have any solid reasons to chase the currency higher.” “We could see a test of the 0.70 level over the coming week – and if we do go down and under here, look for 0.6930/40 as the next key support test.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EU’s Moscovici: Brexit deal is still the most likely outcome FX Street 4 years According to Rob Carnell, Chief Economist at ING suggests that we should get ready for an AUD figure of 0.6-something and they've pencilled in a potential trough point for the pair around 0.68-0.69 over the next few months. Key Quotes "It's more a reflection that we think more things are likely to go wrong (US-China trade war, geopolitical uncertainties, global stock market correction) - rather than right over the next few months. Indeed, Rob notes that the AUD's weakness is more than just a China story - it's been all about the slowdown in global activity in 2018 (one that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
