FXStreet notes that the AUD has fallen to a multi-year low, as growth differentials and concerns over the global growth outlook weigh. Analysts at ANZ Research share their outlook for the AUD/USD pair which is currently trading at 0.6595.

“While easing geopolitical risks and accommodative global policy have been supportive, only a globally synchronous rise in growth would lift the AUD much above current levels.” 

“While RBA easing is likely to have been pushed out by improving labour market momentum, lack of carry from low domestic yields will hamper the AUD in the medium term.”