Rabobank sees a likely weaker AUD/USD ahead, forecast to 0.60

Via Rabobanbk analyst Foley on the Australian dollar, in brief.

AUD could weaken a little in the months ahead, Rabo says the risk is AUD/USD dropping to 0.60 by the the middle of this year.

Citing:

• a firm US dollar
• headwinds due to China’s economy

Also notes potentially rising political uncertainty ahead of Australia’s federal election in May, a deterioration in Australia’s budget and current account positions.

Earlier from Australia, another huge job number, although full time jobs declined while part-teime surged:

• Australia December 2024 unemployment rate 4.0% (vs. 4.0% expected)
• Pricing for February Reserve Bank of Australia rate cut jumps after the strong jobs report

This article was written by Eamonn Sheridan at www.forexlive.com.