Despite the RBA delivering a rate cut that was only priced as a low probability a week ago, AUD/USD is up slightly, recapturing the 0.66 handle. To a large degree, this is due to the greenback’s lurch lower, in the opinion of analysts at Westpac Institutional Bank. Key quotes “The global mood swing against the US dollar is likely to extend near term, pressuring what were record real money A$ shorts on CME. But the broader picture remains bearish for AUD crosses.” “This week’s RBA cut left its post-summer message of optimism in tatters. We look for a further cut to the 0.25% lower bound in April.” “Investment and construction were falling even before the bushfires and Covid-19 sledgehammer to Q1 growth. Look for choppy trade either side of 0.6600 near term, with squeezes offering opportunities for better levels to sell. Sub-0.64 still a reasonable multiweek target.” 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 AUD/USD struggles for a firm direction, holds steady above 0.6600 mark FX Street 3 years Despite the RBA delivering a rate cut that was only priced as a low probability a week ago, AUD/USD is up slightly, recapturing the 0.66 handle. To a large degree, this is due to the greenback’s lurch lower, in the opinion of analysts at Westpac Institutional Bank. Key quotes “The global mood swing against the US dollar is likely to extend near term, pressuring what were record real money A$ shorts on CME. But the broader picture remains bearish for AUD crosses.” “This week’s RBA cut left its post-summer message of optimism in tatters. We look for a further cut… 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.
