Next year, the Australian dollar will rise in price in relation to the namesake from the United States by 12%, predict Bank of America. Investment bank analysts recommend that traders consider buying an "Aussie", which can bring good profits.
The growth of the Australian dollar in a large American bank is associated with the establishment of US-China relations and an increase in world trade. The optimistic scenario assumes the growth of the Australian currency to $ 0.81. It is possible that the course will go even higher. This, according to experts, will occur in the event of a serious increase in the pace of demand for commodities compared with today's data.
Taking advantage of the growth of oil and iron ore, the Aussie will be able to strengthen not only against the US dollar but also against the local currency assets of Asian countries. World investors will find the Australian stock market one of the most attractive in the new year.
According to banking experts, trade disputes between Washington and Beijing will exhaust themselves in the first half of 2019. It is expected that the parties will sign a package of agreements on mutual concessions.
Studying growth factors for Aussies, one should not lose sight of political events that can significantly change the balance of power in the foreign exchange market. To provoke a cessation of growth of the Australian dollar can federal elections. However, even their unexpected result is unlikely to undermine the potential of the "Australian", analysts summarized.
Since the beginning of this year, the Australian dollar against the US dollar fell by 7.5%. On Thursday, the AUD / USD currency pair is trading in the red, in the region of $ 0.722.
The material has been provided by InstaForex Company - www.instaforex.com