The Australian dollar certainly enjoyed the pro-risk environment and reconquered parity. This reflects the global mood and not the situation in Australia. Chinese weakness: Australia is still heavily reliant on the mining industry. More signs of weakness from China including the recent Chinese rate cut, play against the Aussie. Relatively resilient job market: After a few disappointments, the recent jobs report from Australia was positive ,reflecting some stabilization in the economy. Housing and retail sales are the main points of weakness. Rate movements: The RBA will probably pause in rate cuts unless Europe unravels. The prospects of more cuts are much lower. If Glenn Stevens and his colleagues do surprise with another cut, it will be a big disappointment. AUD/USD might refocus on domestic issues during July and let go of Europe, at least partially, but if European headlines continue dominating the global news, Australian matters will be pushed to the sidelines, and the Aussie will continue moving according to the risk on/risk off mood swings. This article is part of the Forex Monthly Outlook. You can download it by joining the newsletter in the form below, which appears on any article on Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next EUR/USD July 23 Euro Falls over Greece, Spain Bailout Kenny Fisher 9 years The Australian dollar certainly enjoyed the pro-risk environment and reconquered parity. This reflects the global mood and not the situation in Australia. Chinese weakness: Australia is still heavily reliant on the mining industry. More signs of weakness from China including the recent Chinese rate cut, play against the Aussie. Relatively resilient job market: After a few disappointments, the recent jobs report from Australia was positive ,reflecting some stabilization in the economy. Housing and retail sales are the main points of weakness. Rate movements: The RBA will probably pause in rate cuts unless Europe unravels. The prospects of more cuts are… 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.
