AUD/USD: Back inside the 0.6575-0.6700 range – DBS

Source Fxstreet

AUD/USD peaked at 0.68 on July 11 and fell to 0.6643 on Monday, back inside the 0.6575-0.6700 range seen between mid-May and early July, DBS senior FX strategist Philip Wee.

AUD to rise later in the coming months

“AUD/USD peaked at 0.68 on July 11 and fell to 0.6643 on Monday, back inside the 0.6575-0.6700 range seen between mid-May and early July”

“Apart from China’s uninspiring economy, the Australian Dollar (AUD) has been under pressure alongside commodities over the past week due to uncertainties over the US Presidential elections. For example, Copper fell 17% from the year’s high of USD505/lb.70 (May 21) to 420 on Monday.”

“However, US equities rallied in the overnight market after US President Joe Biden ended his re-election bid with Democrats uniting behind Vice President Kamala Harris as the party’s nomination to take on Donald Trump at the elections. A less one-sided race to the White House coupled with Fed cuts could weaken the USD and support the AUD later in the coming months.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Trump's Account May Contain BTC. US President Proposes Another Bitcoin Policy, Just Another Political Talk Show?U.S. President Donald Trump has claimed that the "Trump Account (530A)" could potentially include Bitcoin. Is this merely a political talk show, or is it a realistic possibility for the f
Author  TradingKey
10 hours ago
U.S. President Donald Trump has claimed that the "Trump Account (530A)" could potentially include Bitcoin. Is this merely a political talk show, or is it a realistic possibility for the f
placeholder
Gold Price Forecast: Gold Under Pressure Below $4,200 as Market Awaits Fed MinutesAs of the Asian session on July 7, gold prices ( XAUUSD) fluctuated and weakened near $4,140. From a technical perspective, gold prices rebounded for four consecutive trading days and tou
Author  TradingKey
14 hours ago
As of the Asian session on July 7, gold prices ( XAUUSD) fluctuated and weakened near $4,140. From a technical perspective, gold prices rebounded for four consecutive trading days and tou
placeholder
Silver Price Forecast: XAG/USD rally stalls, sellers eye $60.00Silver price retreats by over 1% on Monday, even as the Greenback and US Treasury yields edge lower, with the white metal threatening to drop below $60 for the first time this week. At the time of writing, the XAG/USD trades at $61.80, after peaking at around $63.28 earlier during the day,
Author  FXStreet
19 hours ago
Silver price retreats by over 1% on Monday, even as the Greenback and US Treasury yields edge lower, with the white metal threatening to drop below $60 for the first time this week. At the time of writing, the XAG/USD trades at $61.80, after peaking at around $63.28 earlier during the day,
placeholder
Gold Price Forecast: XAU/USD struggles to extend recovery above 20-day EMAGold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.
Author  FXStreet
Yesterday 10: 23
Gold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.
placeholder
WTI Crude Oil Price Forecast: OPEC Production Increase Combined With Hormuz Strait Navigation May Drag Prices Down to $60.As of the Asian session on July 6, WTI ( USOIL) crude oil prices extended last Friday's rebound during intraday trading, peaking at $69.26 before consolidating around $68.60. From a techn
Author  TradingKey
Yesterday 10: 08
As of the Asian session on July 6, WTI ( USOIL) crude oil prices extended last Friday's rebound during intraday trading, peaking at $69.26 before consolidating around $68.60. From a techn
Related Instrument
goTop
quote