EUR/AUD is comfortably above its long term average. Both Australia and the Eurozone are facing recession due to the coronavirus pandemic so Australia has lost its long-standing growth advantage, per Westpac Institutional Bank. Key quotes “EUR/AUD price action in March and into early April indicates that global risk appetite is the main driver of the pair short term. As such, it will be difficult for AUD to sustain rebounds.” “Australia reported a current account surplus of A$10.2bn over 2019, 0.5% of GDP. Q2 and Q3 (then Q4) were the first consecutive surpluses since 1973. Lower surpluses seem assured in coming months, but still, this is unusually supportive of AUD on crosses.” “Multi-week, EUR/AUD may avoid retesting its March highs near 2.00 but a push back towards 1.85 seems likely.” 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 Bitcoin Cash Price Analysis: BCH/USD trip to $300.00 is going to be short FX Street 2 years EUR/AUD is comfortably above its long term average. Both Australia and the Eurozone are facing recession due to the coronavirus pandemic so Australia has lost its long-standing growth advantage, per Westpac Institutional Bank. Key quotes “EUR/AUD price action in March and into early April indicates that global risk appetite is the main driver of the pair short term. As such, it will be difficult for AUD to sustain rebounds.” “Australia reported a current account surplus of A$10.2bn over 2019, 0.5% of GDP. Q2 and Q3 (then Q4) were the first consecutive surpluses since 1973. Lower surpluses seem assured in coming… 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.
