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Sell AUD/USD

  • Regular
  • Trading Tips
  • 3 months ago
  • 120

Sell AUD/USD

Sell @0.73600
TP @ 0.73200
SL @ 0.73900

The Reserve Bank of Australia is unlikely to hike interest rates anytime soon; US-China trade tensions
are expected to remain elevated.

• At its meeting in November, the Reserve Bank of Australia (RBA) left the cash rate unchanged at
1.50%. Governor Philip Lowe said the Australian economy was performing well, supported by low
level of interest rates.

• Progress in reducing unemployment and hitting the inflation target is necessary, and the board
decided that keeping the status quo was the best means of achieving sustainable growth in the
economy and the inflation target over time.

• The Australian Dollar has fallen more than 10% from its peak and falling property prices remain a
major risk.

• Iron ore prices are trading at a 4-month low, and this has put the currency under pressure.

• The Chinese Yuan has depreciated by more than 11% since March this year. This has placed trade-
sensitive currencies like the Australian Dollar under pressure.

Smart Trend Team

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