Economists at Westpac notes that equity and iron ore wobbles are providing dips to buy into, with soft USD and lack of Reserve Bank of Australia (RBA) concern suggesting another retest of 0.7400 multi-week for the AUD/USD pair which is flat on the week. Key quotes “The nervous market mood snuffed out the A$ bounce on Australia’s much stronger than expected labour data. The 111k jobs rise follows 119k in Jul, an encouraging sign for Q3 GDP which we see up 1.8% vs consensus of just 0.4%.” “Commodities have wobbled in recent days but our base case is that the Fed’s aggressive easing stance (QE running around $120 B/mth) will weigh on USD and support risk assets over time. Look for AUD/USD to find buyers ahead of 50-DMA now at 0.7182, with another test of 0.7400 likely over the next month.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Philippines: Extra stimulus to fight the pandemic – UOB FX Street 1 year Economists at Westpac notes that equity and iron ore wobbles are providing dips to buy into, with soft USD and lack of Reserve Bank of Australia (RBA) concern suggesting another retest of 0.7400 multi-week for the AUD/USD pair which is flat on the week. Key quotes “The nervous market mood snuffed out the A$ bounce on Australia’s much stronger than expected labour data. The 111k jobs rise follows 119k in Jul, an encouraging sign for Q3 GDP which we see up 1.8% vs consensus of just 0.4%.” “Commodities have wobbled in recent days but our base case is that the… Top 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.
