AUD/USD Daily Forecast - 25 June

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Sunday, Jun 24 2018

AUD/USD Daily Forecast - 25 June

AUD/USD was hit hard alongside stocks as Trump’s new suggested tariffs rocked markets quite hard. After the US had already detailed tariffs on $50B worth of goods on China and the latter announced it would retaliate, the Administration is considering additional duties on no less than $200 billion worth. The news rattled markets and triggered a sharp risk-off atmosphere, sending the Aussie to the lowest levels in over a year. Given China is one of the largest trade partner of Australia, and a major importer of commodities from Australia – the trade war weighed on AUD/USD.

During the week we expect the anxiety to continue, heavily driven by US fundamentals.

There are no major events related to AUD/USD on 25th June.

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