Are Aussies pretty thick or just down in the dumps.
From latest Consumer Confidence Survey - Rate rise expectations post big jump – 60% now expect higher rates.your
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Are Aussies pretty thick or just down in the dumps.
From latest Consumer Confidence Survey - Rate rise expectations post big jump – 60% now expect higher rates.your
Even if they take decision to cut rates it will be marginal and gradual. At least it may take 3 to 5 years to drop below 4%. Don't expect massive cut.
There will be winners and losers if NZD and AUD appreciate sharply. Large commodity exporters can get hit. Earnings from the tourism sector too will drop.
https://www.forex.com/ie/news-and-an...sts-2024-high/
AUD/USD Key Points
- AUD/USD is benefitting from speculation about another interest rate hike from the RBA after a higher-than-expected CPI report and strong retail sales figure.
- With little on the Australian economic calendar this week, AUD/USD traders’ focus will be on US developments.
- For AUD/USD bulls, the ideal setup would be a controlled dip back to previous-resistance-turned-support near 0.6700 to allow a secondary entry on a retest of the breakout level
j powell says he's aware of downside risks. first hint of maybe cut coming soon.