Ready to rise: the Australian dollar will go up


According to analysts of the largest bank, Mr. Stanley, the Australian national currency has excellent potential for growth against the US dollar. Specialists say that the Australian dollar is strengthening its fourth session in a row after the release of economic data from China, which turned out to be better than expected and increased the demand for trade-dependent currencies.

On Monday, July 15, the currency of the Green Continent went up by 0.2% to $0.70347 compared to the $0.7020 indicator recorded the previous day. Currently, the Australian dollar continues to move to the highs of the beginning of this month, when it reached $ 0.7046.

Morgan Stanley is confident that he will overcome this peak and continue to grow. Analysts pay attention to maintaining a long position in the AUD/USD pair with the expectation of an increase to $0.73. The bank assumes that not very favorable statistics from Australia will not affect the overall financial situation. Moreover, Morgan Stanley believes that even the latest weak statistical data will not lead to significant changes in the rates of the Reserve Bank of Australia. At the same time, the current statistics from the United States was a pleasant surprise for market players but the improvement may turn out to be temporary and the Fed’s rhetoric remains soft.


The material has been provided by InstaForex Company –

Source:: Ready to rise: the Australian dollar will go up

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply