Goldman Sachs see lower iron ore prices ahead, will be a negative for AUD

Goldman Sachs with a longer outlook on the AUD (12 months),m this via eFX 

bank trade ideas, 
out eFX Plus

  • “In addition to potentially lower front-end pricing, weaker iron ore prices may weigh on AUD/USD. Despite their recent surge, our commodity strategists expect that iron prices will fall over the next 12”
  • “Despite generally rising commodity prices, Australia-specific factors may continue to hold back AUD/USD vs other USD crosses. Most importantly, the OIS curve substantially over-prices our expectations for policy rates, and our rates strategists now see a sufficiently compelling case to own the Aussie front end” 

Just to repeat, GS see iron ore lower over 12 months. Chinese markets have reopened today after a break on Monday, Tuesday and Wednesday and commodities are doing a catch-up surge. 


Articles You May Like Review: Analyzing the Trading Platforms and Account Types Offered
Gold gains today, still ends week down over 3%
IC Markets Review: Tight Spreads, Reliable Execution, and Robust Trading Platforms
The Fed probably won’t be delivering any interest rate cuts this summer
Sterling Climbs as Markets Dial Back BoE Rate Cut Expectations

Leave a Reply

Your email address will not be published. Required fields are marked *