AUDUSD remains long
The overall trend from the COVID low remains bullish. Australia's economy is roaring and the US is preparing to issue $1.9 trillion in stimulus which will go straight to consumption (there is another infrastructure spending bill proposed as well). Australia on the other hand has tapered off all of its COVID supports and its economy is roaring along - the strongest in the OECD presently. Keep buying on dips as the AUD should return to 80c and then move even higher, particularly with the very high iron ore price.
Watch US bond yields carefully. If the Fed does not provide support to suppress bond yields this all goes out the window. But when has the Fed ever not pumped up the tyres? ;)
Watch US bond yields carefully. If the Fed does not provide support to suppress bond yields this all goes out the window. But when has the Fed ever not pumped up the tyres? ;)
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