The current situation of the Aussie dollar after Lowe’s speech is seen by strategists at Westpac Institutional Bank as an opportunity to sell, given signals of falling commodity demand. Key quotes “The key point from Lowe’s speech on Wednesday was the RBA currently expects the impact to be temporary, if significant, and that growth will recover into end year on stimulus efforts.” “Our views are much more cautious with revised growth forecast of just 1.9% (versus RBA at 2.75%) for the year ended 2020 versus 2.1% previously.” “The A$ should remain sensitive to the coming signs of falling commodity demand that we will inevitably see.” “We took profit on our short AUD from 0.6950 on the dip through 0.6700 last week. While the A$ could push higher near term given guidance from Lowe that they are taking the ‘long view’ on the impact of bushfires and coronavirus, we doubt that we will see much strength above 0.68.” 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 OPEC+ JTC to recommend output cut of 600K – Bloomberg FX Street 2 years The current situation of the Aussie dollar after Lowe’s speech is seen by strategists at Westpac Institutional Bank as an opportunity to sell, given signals of falling commodity demand. Key quotes “The key point from Lowe’s speech on Wednesday was the RBA currently expects the impact to be temporary, if significant, and that growth will recover into end year on stimulus efforts.” “Our views are much more cautious with revised growth forecast of just 1.9% (versus RBA at 2.75%) for the year ended 2020 versus 2.1% previously.” “The A$ should remain sensitive to the coming signs of falling commodity demand… 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.
