AUD / USD
Despite the geographical distance and traditional calm of Australian investors for European events, the double political crisis in Europe, including Italy and Spain, could not help but touch Australian trading floors. The Australian dollar lost 28 points on Friday, but taking into account the fall in oil prices by 4.5%, iron ore by 3.7%, gold by 0.2%, aluminum by 0.7%, the downturn can be considered a more serious medium-term decline in the beginning. The Australian government assumes a decrease in budget revenues due to fall in the price of iron ore and a decrease in external demand by 11% in the next four years (based on $ 4.7 billion last year).
With the overall pressure of the US dollar and commodity markets, we expect the AUD / USD to decline to 0.7440.
* The presented market analysis is informative and does not constitute a guide to the transaction.
