The AUDUSD has gapped lower during the trading session on Monday- forextrade forextrading
price moved sideways on Tuesday morning as investors assessed the happenings in China following the weak trade numbers. It was trading at 0.6475, slightly above Monday’s low of 0.6411. This price was about 4.88% above the lowest point in October.Analysts at Goldman Sachs believe that the Reserve Bank of Australia will maintain a hawkish tone in the next few months. They expect that the bank will hike rates to 4.1% in the next six months as it continues fighting elevated inflation.
Some analysts caution that further rate hikes will tip the Australian economy to a recession. In a note, Shane Oliver of AMP Capital, said that 4.2% rate hikes will lead to a recession and push home prices down by about 30%.On Monday, the country’s statistics agency said that exports declined by 0.3% in October. This decline was much lower than the median estimate of a 4.3% increase. It was also lower than the 5.7% growth it experienced in September. Imports also dropped by 0.7% in October.
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