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Commodity currencies stay weak to additional correction decrease in near-term – MUFG

Byadmin2

May 9, 2022
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Are commodity currencies beginning to lose a few of their shine? Economists at MUFG Financial institution are adopting a extra cautious outlook for commodity-related currencies within the near-term.

Constructing fears over a sharper slowdown in international progress

“We could possibly be at a tipping level the place an extra transfer larger in costs may now be considered as much less supportive for commodity-related currencies in as far as they serve to bolster fears over a sharper slowdown in international progress forward.” 

“USD/CAD breaking above 1.3000 and AUD/USD beneath 0.7000 would supply additional bearish technical indicators.”

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