AUDUSD to dip below 0.68 on poor equity and metals prices mood – Westpac

The aussie is middle of the pack over the past week. Economists at Westpac expect the AUD/USD pair to drop under 0.68. 

Reserve Bank of Australia should hike and sound upbeat

“The domestic calendar returns to focus with the RBA debating +25 bps versus +50 bps according to Governor Lowe last week. Westpac expects 50 bps in both July and August, with market pricing only a little short of this. The statement should include a positive view on the economy, unlike legitimate recession talk in the likes of the US and UK.”

“Near term, the poor equity and metals prices mood should see 0.6800 give way but back to 0.72 by Sep.”