Home AUD/USD: On The Upswing; Where To Target? – CIBC
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AUD/USD: On The Upswing; Where To Target? – CIBC

The Australian Dollar is making its way higher, quite quietly. What’s next?

Here is their view, courtesy of eFXdata:

CIBC Research discusses AUD outlook and  adopts a structural bullish bias targeting AUD/USD at 0.77 by the bend of Q3 and at 0.80 by year-end.

“The odds of the RBA delivering a rate hike in November have retreated, but  we consider the improving macroeconomic backdrop a catalyst for AUD strength.

The probability of a hike coming in conjunction with the November Statement on Monetary Policy has fallen from nearly 80% three months ago to now stand at a little over 20%.

But policymakers remain confident in the economy, stating that “progress on both inflation and unemployment is expected”. CIBC argues.

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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.