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Australian Dollar Q2 Fundamental Forecast: Long AUD/USD Downtrend May Be Fading at Last

March 29, 2024

Via: DailyFX

The Australian Dollar has endured a miserable couple of years against its big brother from the United States. Weakness has continued into 2024 so far.

But there might be some better news ahead for Aussie bulls, even if much of it is likely to come as a ‘US Dollar weakness’ story rather than anything wonderful from the Australian economy.

Rising US interest rates and the Greenback’s ‘haven’ status along with broad-based risk aversion have all conspired against the Australian Dollar. The Australian economy has done rather better in troubled times than some of its western peers, but you’d never know it from the AUD/USD chart.

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