AUD to reach new short term lows
Updated
Two factors I am watching closely: RBA interest rate and Iron ore price. if Iron falls then demand for AUD will fall. Expectations of an August interest rate cut have dropped following strong CPI result (0.6) vs. (0.5). That only provided a temporary rise in price as relentless selling continues. I don't see any other good news coming out of Aus.
Note
This is a great time to take profits, or half-profits.Trade closed: target reached
Related publications
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.