DCFX-TA

AUDUSD | Market outlook

Long
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
AUD has shown moderate gains against USD during the Asian session, correcting after a series of declines and trying to move away from local lows since August 24. The instrument is slightly supported by the minutes of the meeting of the Reserve Bank of Australia (RBA) published yesterday, which strengthened the market's belief that the Australian regulator will not rush to tighten monetary policy in the near future. In particular, the RBA plans to raise the rate no earlier than 2024, and the current volumes of the quantitative easing program are expected to be revised only in mid-2022. In turn, the weak macroeconomic statistics from the PRC, which more and more clearly indicate a high rate of slowdown in the Chinese economy, exerts a noticeable pressure on the instrument. Traders are also discussing the possible bankruptcy of one of the largest Chinese developers, Evergrande Group, which could lead to new shocks on the stock markets.
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