#AUDUSD @ 0.67168 : Outlook remains modestly negative – Danske Bank
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Analysts at Danske Bank forecast the AUD/USD pair at 0.68 in a month, at 0.68 in three months and at 0.67 in a six months period.
“The Reserve Bank of Australia (RBA) paused its hiking cycle in March following the banking sector uncertainty. After the strong March employment data, markets now price in around 70% probability of one more hike over the summer, which we consider fair.”
“With the global growth backdrop remaining weak and central banks broadly still on a tightening bias, the outlook for AUD/USD remains modestly negative. If April macro data shows, that the negative impact from the banking sector worries has been limited, then recovering risk sentiment could give the cross a short-term lift. But over the 6-12M horizon, we stick to a downward-sloping forecast profile.”
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