Dollar looks to weaken across the board, AUDUSD target 0.77
The dollar looks ready to weaken across the board. From a macro level the US has to widen the deficits which historically has a negative impact on the currency. All the while inflation is trending higher with copper ready to breakout. Copper accounts for 25% of Australia's exports so a rising copper price is highly inflationary for AUD. For this reason I am leaning bullish on this pair.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.