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Go Long on Australian Dollar With Early Economic Recovery Bets

From bnnbloomberg.ca

The Australian dollar’s turnaround signals the start of a recovery that may see it rally to 70 U.S. cents by year-end, according to Insight Investment. An early start to rebooting the economy and a rebound in commodities will support the Aussie, says Adam Kibble, investment specialist at Insight. The currency is also likely to gain against the euro as the common bloc struggles to contain the economic fallout from the virus outbreak, he added. “Exiting the virus earlier, compared to Europe and the U.S., will be very positive for the Aussie,” said Kibble. “The ability of Europe to respond to the economic consequences ... (full story)

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  • Category: Fundamental Analysis