Buy AUDUSD from support in Today’s EU Trading Session
Buy AUDUSD from support
TP: 0.6900
Q4 2019 included two key positive developments for global risk appetite
1) the Brexit deal breakthrough
2) and the US-China "Phase One" trade deal
This was enough for the Aussie to reach highs since July.
Domestically, Australia continues to print trade surpluses and iron ore's 3-month highs are backed by a bounce in copper prices (coal remains a weak spot). Yet 0.6950 did not give way and it is easy to imagine US-led trade tensions returning in 2020.
Most importantly, we expect the RBA to lower its Australia GDP forecasts and cut the cash rate in February, an outcome only about 50% priced.
The Aussie should continue to meet sellers with a 0.69 handle over year-end, with risks below 0.67 on anticipation of or delivery of a February cut.
TP: 0.6900
Q4 2019 included two key positive developments for global risk appetite
1) the Brexit deal breakthrough
2) and the US-China "Phase One" trade deal
This was enough for the Aussie to reach highs since July.
Domestically, Australia continues to print trade surpluses and iron ore's 3-month highs are backed by a bounce in copper prices (coal remains a weak spot). Yet 0.6950 did not give way and it is easy to imagine US-led trade tensions returning in 2020.
Most importantly, we expect the RBA to lower its Australia GDP forecasts and cut the cash rate in February, an outcome only about 50% priced.
The Aussie should continue to meet sellers with a 0.69 handle over year-end, with risks below 0.67 on anticipation of or delivery of a February cut.
Dagangan ditutup: sasaran tercapai
Closed reach TP at 0.69
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.