AUD/USD Can Rise Modestly in Coming Months -- Market Talk

Dow Jones05-24

2214 GMT - The AUD is the third best performing G10 currency against the USD this year, and Commerzbank thinks it can still move higher. "We continue to feel comfortable with our forecast that the RBA will not cut rates for the first time until quite late this year," Commerzbank says, highlighting the November meeting as a reasonable starting point. Even after that, the RBA is likely to cut rates slowly. "This should continue to support the Aussie," Commerzbank says. Still, sentiment should turn around by the year-end at the latest. Commerzbank expects a short period of weakness in the U.S. economy, followed by a fairly strong turnaround. So, the Fed is likely to cut rates only slightly next year, contrary to market expectations. Commerzbank sees AUD/USD at 0.67 at end-December, from 0.6606 currently. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 23, 2024 18:14 ET (22:14 GMT)

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Still, sentiment should turn around by the year-end at the latest. Commerzbank expects a short period of weakness in the U.S. economy, followed by a fairly strong turnaround. So, the Fed is likely to cut rates only slightly next year, contrary to market expectations. Commerzbank sees AUD/USD at 0.67 at end-December, from 0.6606 currently. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 23, 2024 18:14 ET (22:14 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AUD/USD Can Rise Modestly in Coming Months -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAUD/USD Can Rise Modestly in Coming Months -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-24 06:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2214 GMT - The AUD is the third best performing G10 currency against the USD this year, and Commerzbank thinks it can still move higher. \"We continue to feel comfortable with our forecast that the RBA...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2437717163","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437717163","pubTimestamp":1716502440,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2214 GMT - The AUD is the third best performing G10 currency against the USD this year, and Commerzbank thinks it can still move higher. \"We continue to feel comfortable with our forecast that the RBA will not cut rates for the first time until quite late this year,\" Commerzbank says, highlighting the November meeting as a reasonable starting point. Even after that, the RBA is likely to cut rates slowly. \"This should continue to support the Aussie,\" Commerzbank says. Still, sentiment should turn around by the year-end at the latest. Commerzbank expects a short period of weakness in the U.S. economy, followed by a fairly strong turnaround. So, the Fed is likely to cut rates only slightly next year, contrary to market expectations. Commerzbank sees AUD/USD at 0.67 at end-December, from 0.6606 currently. 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