Australia and its currency faces a multitude of factors both on and offshore.
I've been invited to do an interview for Dukascopy later today and the focus is AUD/USD. Part of the interview is giving my forecasts for the Aussie over the next 1, 3 & 12 months.
Picking prices is not really my game but I've had a go anyway;
- 1m - 0.7500 - 0.7700
- 3m - 0.7300 - 0.7600
- 12m 0.6500 - 0.7000
My main brief thoughts for the calls is that US interest rates are going to have a big say. We're not going to be seeing boom times for the global economy anytime soon and China still seems to be slowing while debt problems continue to simmer, which will keep the pressure on resource economies like Oz
Domestically there's still worries over the housing market while the familiar story of falling inflation is keeping the RBA in dovish mode
So that's my view for being put on the spot and having to call some numbers.
What I'd also like to do is take the consensus from you guys and girls into the interview also. Let me know in the comments how you see the 1, 3 & 12 month outlook for prices and how you justify those prices. I'll tot them up to see what the general bias is from the readership