AUD/USD: consolidation phase expected — Nomura

FXStreet — The Australian Dollar has fallen against the US Dollar in may, repeatedly, under pressure, declared the market analysts of the Japanese Nomura Bank.

Important Quotes:

Some market participants use this as a reason like seasonality, but a deeper analysis shows that some macro-led-economic developments to this course anomalies.

A narrowing of the Austral belong to-us 2Y Swap Spreads, as well as a strong decline in the price of raw material prices and a stronger US Dollar due to geopolitical or monetary policy factors. We do not expect that this will also happen this year.

We expect that the AUD/USD on its course of consolidation. However, the Australian Dollar against other currencies is expected to show how the Euro, a weaker Performance.

** FXStreet News Editorial, FXStreet**

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