AUD/CAD: Fundamental Review & Forecast

Choosing among commodity currencies, we prefer the AUD today. the deals to buy seem the best.

Fundamental Analysis
2020年9月16日

The uptrend continues with no signs of completion. It was formed in March 2019, that is, long before the pandemic, and showed that investments in the AUD/CAD were quite reliable. Both currencies are usually under the same pressure factors. Still, in this confrontation, the Australian dollar always wins, while the Canadian dollar is burdened by the situation on the oil market.

This month, the Australian dollar was supported by a sustained recovery in the Chinese economy, which was confirmed by the macroeconomic report on industrial production output and business activity. The growth of consumer sentiment in Australia by 18% in September was also unexpected. This week, the Australian dollar was also supported by the results of the RBA meeting, as well as news that China won the dispute with the US in the WTO.

The Canadian dollar, in turn, is without growth incentives, in the absence of macroeconomic reports. Oil is trading below $40, and forecasts for the demand for black gold are mostly negative.

Next week will be less volatile for the AUD/CAD. No reports on the economy of the two countries are expected, and the rates will be depending on external factors. However, investments in the Australian dollar remain the most preferred among investors when it comes to commodity assets because the Canadian dollar depends on the cost of oil. Most technical analysis tools indicate the efficiency of the deals based on the trend. We also believe that the deals to BUY remain the most effective in the medium term.

Stanislav Litinskyi

Fundamental Analysis

USD/CHF: Fundamental Review & Forecast

Save assets are still in demand. The deals to SELL seem the most promising.

Stanislav Litinskyi
2020年9月11日

Fundamental Analysis

EUR/AUD: Fundamental Review & Forecast

Economic growth in China and optimism on the market support the AUD. The deals to SELL seem the most promising.

Stanislav Litinskyi
2020年9月09日

Fundamental Analysis

CAD/JPY: Fundamental Review & Forecast

A peak hasn't been achieved. We are waiting for new maximums.

Stanislav Litinskyi
2020年9月04日