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CBK on the Australian dollar – looking for it to recover



CBK on the Australian dollar – looking for it to recover




















A snippet from CommerzBank on the AUD

  • China remains the greatest risk, 
  • The recovery of the Australian economy and thus of the AUD will depend largely on the extent to which concerns about the Chinese economy prove to be true … we are optimistic that there will not be a noticeable slump in Chinese economic growth.
  • We forecast a recovery of the Australian currency, especially against the US dollar, which is however primarily attributable to a weak greenback rather than a strong AUD
  • Fed unlikely to raise its key interest rate any further
  • ECB will also continue to pursue an expansionary monetary policy, we expect a sideways movement in EUR-AUD for the time being
  • As soon as the prospect of an interest rate hike in Australia next year emerges, the AUD should also gain against the EUR
  

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