FX and Your Business 9 June 2021 - a podcast by NAB Foreign Exchange

Phin Ziebell joins Rodrigo Catril, Senior FX Strategist, in an FX discussion touching on last week’s brief AUD fall below 77c and its recovery back above the figure post US nonfarm payrolls late on Friday. Rodrigo notes that ahead of the FOMC meeting next week, speculation around Fed QE tapering talk is supporting the USD, but at the same time elevated commodity prices remain a solid fundamental force favouring a stronger AUD. Phin and Rodrigo also discuss COVID vaccination as a driver for economic recovery and confidence both in Australia and Globally. The two then touch on NAB’s unchanged forecast for the AUD/USD that sees the pair trading above 80c in H2-2021, supported by NAB’s expectations for commodity prices to remain elevated, aided by a resilient vaccine powered global economic recovery and a softer USD outlook

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