AUD/USD set to rally over the medium term – CIBC

Market news

13 June 2023

AUD/USD set to rally over the medium term – CIBC

Economists at CIBC Capital Markets expect AUD/USD to appreciate in the coming quarters.

Upside risks to AUD

We expect AUD/USD to appreciate in the coming quarters due to continued RBA hawkishness, and medium-term USD weakness alongside an anticipated pick-up in Chinese demand over time.

In the near-term, there are slight headwinds from the USD side, which should cap short-term AUD/USD strength, but we still expect slow appreciation over the forecast horizon due to the above factors.

AUD/USD – Q3 2023: 0.68 | Q4 2023: 0.69

Currencies. Daily history for Tuesday, June 13, 2023

Commodities. Daily history for Monday, June 12, 2023

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