Sean Callow, analyst at Westpac, notes that the AUD/USD avoided 0.7000 by a whisker and is up modestly over the week, but it certainly did not find inspiration in local data. Key Quotes “The NAB business survey reported weaker conditions and confidence, with both indexes now below long-term averages. Housing finance approvals fell again in Jan, taking the annual decline to -21%.” “Consumer sentiment also weakened, the Westpac-MI survey for March sliding -4.8%, including -8% for the portion of the survey conducted after the Q4 GDP data. Markets are priced for 1.5 RBA rate cuts by year-end, though we do note increased talk of looser fiscal policy in the 2 April federal budget, just weeks ahead of the election.” “Risk appetite has improved this week (MSCI World up the past 3 days) and AUD/USD might also find some support from a softer US dollar tone into the FOMC meeting. A steady hand is assured at 2.25-2.50%, which as the chart shows, remains attractive by global standards.” “But USD could struggle on the quarterly Summary of Economic Projections, especially on the “dots” of the likely path of the funds rate. These will fall – the only question is how far.” 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 DUP said to consider supporting the government’s deal FX Street 4 years Sean Callow, analyst at Westpac, notes that the AUD/USD avoided 0.7000 by a whisker and is up modestly over the week, but it certainly did not find inspiration in local data. Key Quotes "The NAB business survey reported weaker conditions and confidence, with both indexes now below long-term averages. Housing finance approvals fell again in Jan, taking the annual decline to -21%." "Consumer sentiment also weakened, the Westpac-MI survey for March sliding -4.8%, including -8% for the portion of the survey conducted after the Q4 GDP data. Markets are priced for 1.5 RBA rate cuts by year-end, though we do… 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.
