Australian dollar could rise further in coming weeks but it will likely run out
of steam by the spring, Rabobank says. The banking and financial services
company favors selling rallies above $0.70 and anticipates a fall to $0.67 in
the next three months. The Australian dollar has performed well recently,
reaching its highest value since mid-July over the holiday period at $0.7043,
according to FactSet. It drops back on Thursday, last down 0.3% at 0.6994. "Weak
wage growth, drought and forest fires are significant headwinds for the
[Australian] economy," raising the risk of the Reserve Bank of Australia cutting
interest rates on Feb. 4, Rabobank says. Slowing Chinese growth and
deterioration in U.S.-China trade relations would also weigh on the currency
Professional Techniques For Short-Term Currency Trading
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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