AUD/USD bulls launch a counterattack

Huitong Network10month24Daily News - Monday（10month24During the Asian session, the AUD/USD bulls launched a counterattack and stabilized0.76Above the gate. before 2A heavy decline was recorded in several trading days as market expectations for the Federal Reserve's interest rate hike within the year intensified.

Recently released data shows that China's economic growth remained stable in the third quarter6.7%At a high level, and is expected to achieve the goals set by the Chinese government6.5%Annual growth target. This indicates that Chinese demand is still good, especially for commodities such as iron ore and coal.

Commonwealth Bank of Australia Seniorforeign exchangeStrategistElias Haddad"The bottoming out and rebound of commodity prices have supported the stabilization of Australia's trade conditions, and the Australian dollar will continue to benefit from it. In the current global environment of ultra-low or negative interest rates, Australia's real interest rate level will still attract overseas funds."

This Wednesday（10month26Australia will announce its third quarterCPIData release. Market forecast shows that Australia's basic inflation rate in the third quarter has increased compared to the previous quarter0.4%Left and right, year-on-year increase1.0%about.

Elias Haddad"If the data does not fall short of expectations, it will support the upward trend of the Australian dollar and effectively alleviate the easing pressure faced by the Federal Reserve of Australia," he said

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