Resilience of industrial commodities and RBA reluctance to highlight new policy options plus underlying USD softness suggest a retest of tricky 0.7240/45 area for the aussie, per Westpac. Key quotes “Risk appetite has held firm through many weeks of lousy US Covid-19 data which only seem to reaffirm expectations of yet more Fed loosening, keeping equity portfolio weightings elevated. This should remain the case in the week ahead.” “The domestic mood continues to cool, with Australia’s whole eastern seaboard rattled by Victoria’s lockdown judging by the Aug consumer sentiment survey. It is yet to have much impact on national employment, with July showing a firmer than expected 115k jump in jobs.” “RBA Gov Lowe should be pressed on the faltering Q3 growth story but last week’s SoMP stuck to an upbeat 2021 outlook so no hints of policy loosening are likely. Along with iron ore >$120/t, AUD/USD should find buyers on dips to 0.7100/20 and have another go at breaking 0.7245.” 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 EUR/USD: Bond auction over, bulls are back in full force and may extend gains Yohay Elam 2 years Resilience of industrial commodities and RBA reluctance to highlight new policy options plus underlying USD softness suggest a retest of tricky 0.7240/45 area for the aussie, per Westpac. Key quotes “Risk appetite has held firm through many weeks of lousy US Covid-19 data which only seem to reaffirm expectations of yet more Fed loosening, keeping equity portfolio weightings elevated. This should remain the case in the week ahead.” “The domestic mood continues to cool, with Australia’s whole eastern seaboard rattled by Victoria’s lockdown judging by the Aug consumer sentiment survey. It is yet to have much impact on national employment,… 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.
