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10 Apr 2015
AUD/USD might see 0.72 by year-end – HSBC
FXStreet (Barcelona) - According to the Analysts at HSBC Bank, soft commodity prices and weak Australian fundamentals might drag AUD/USD lower towards 0.72 by 2015-end.
Key Quotes
“The rebalancing of the economy continues to be slow and the mining industry is suffering from subdued demand in China which is pushing down commodity prices.”
“Iron ore, one of the country’s main exports has fallen 9% MoM and nearly 50% YoY, as of the end of March. The currency hasn’t responded in the same fashion. Despite evidence that we’re coming to end of the USD rally, we still retain a bearish bias on the AUD.”
“Weak fundamentals and the continued fall in commodity prices mean we retain our forecast of 0.72 by the end of 2015.”
Key Quotes
“The rebalancing of the economy continues to be slow and the mining industry is suffering from subdued demand in China which is pushing down commodity prices.”
“Iron ore, one of the country’s main exports has fallen 9% MoM and nearly 50% YoY, as of the end of March. The currency hasn’t responded in the same fashion. Despite evidence that we’re coming to end of the USD rally, we still retain a bearish bias on the AUD.”
“Weak fundamentals and the continued fall in commodity prices mean we retain our forecast of 0.72 by the end of 2015.”