Negativity around the AUD is high after it broke a 2-year uptrend line to be trading at a low in around a year, according to Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes “It has been dragged down by a soft housing market, pressure on banks, undermining their equity performance and tightening credit conditions for housing. Fears over the impact of the tariffs and credit tightening in China also added to the bearish view.” “However, we should be wary of a rebound. Tariffs news could improve if the US and China restart negotiations. Australian commodity prices remain high relative to the exchange rate, especially for energy prices. GDP rose a strong 3.1%y/y in Q1, above potential, supported by government infrastructure spending, strong service export sectors (education and tourism), high population growth, high business confidence and investment.” “Recent reports from mining companies point to a moderate recovery in capital spending, firming up evidence that the mining investment bust is over. The Government has just passed tax cuts that may help their electoral prospects in a looming election, and help underpin consumer confidence.” “The Australian equity market has out-performed regional peers with a rebound from recent lows in bank shares, suggesting that the market is moving beyond the risks generated by the Royal Commision into their past bad behaviour.” 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 India and Ireland spooked crypto market, sending coins into tailspin, Bitcoin shed 5% in a matter of hours FX Street 5 years Negativity around the AUD is high after it broke a 2-year uptrend line to be trading at a low in around a year, according to Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes "It has been dragged down by a soft housing market, pressure on banks, undermining their equity performance and tightening credit conditions for housing. Fears over the impact of the tariffs and credit tightening in China also added to the bearish view." "However, we should be wary of a rebound. Tariffs news could improve if the US and China restart negotiations. Australian commodity… 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.