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
Gold Price Trend Forecast: US-Iran Peace Talks Drive Gold Rebound, Is the Gold Slump Over?As of the Asian session on June 12, gold ( XAUUSD) prices oscillated lower near $4,180. Yesterday, gold prices briefly dipped toward $4,000 before rebounding sharply above $4,200 on news
Author  Rachel Weiss
6 hours ago
As of the Asian session on June 12, gold ( XAUUSD) prices oscillated lower near $4,180. Yesterday, gold prices briefly dipped toward $4,000 before rebounding sharply above $4,200 on news
placeholder
WTI steadies around $85.00 as Trump indicates potential Iran dealWest Texas Intermediate (WTI) oil price remains subdued after registering over 5.5% losses in the previous day, trading around $85.00 per barrel during the Asian hours on Friday.
Author  FXStreet
15 hours ago
West Texas Intermediate (WTI) oil price remains subdued after registering over 5.5% losses in the previous day, trading around $85.00 per barrel during the Asian hours on Friday.
placeholder
SpaceX Listing Imminent. Funds Flood Into SpaceX On-Chain Tokens, Bitcoin Rebound Momentum May Be WeakenedPerpetual contracts and pre-market tokens for SpaceX are attracting liquidity from the cryptocurrency market, hindering a further rally in Bitcoin.On June 11, Bitcoin ( BTC) continued to
Author  TradingKey
Yesterday 08: 39
Perpetual contracts and pre-market tokens for SpaceX are attracting liquidity from the cryptocurrency market, hindering a further rally in Bitcoin.On June 11, Bitcoin ( BTC) continued to
placeholder
Gold Prices Narrowly Hold $4,000 Level, When Will Precious Metals Selloff Stop? On June 10, Eastern Time, spot gold ( XAUUSD) fell through the $4,100 level during intraday trading after four consecutive sessions of selling, nearing the $4,000 psychological threshold;
Author  TradingKey
Yesterday 02: 22
On June 10, Eastern Time, spot gold ( XAUUSD) fell through the $4,100 level during intraday trading after four consecutive sessions of selling, nearing the $4,000 psychological threshold;
placeholder
US-Iran Tensions Escalate. Iran Announces Closure of Strait to All Vessels; Brent Crude Hits $95 The U.S.-Iran conflict continues to escalate, driving oil prices sharply higher. On Wednesday, Brent and WTI crude futures both closed higher, breaching $90 per barrel. During Thursday's
Author  TradingKey
Yesterday 02: 18
The U.S.-Iran conflict continues to escalate, driving oil prices sharply higher. On Wednesday, Brent and WTI crude futures both closed higher, breaching $90 per barrel. During Thursday's
Related Instrument
goTop
quote