Economists at CIBC Capital Markets expect AUD/USD to appreciate in the coming quarters.
Upside risks to AUD
We expect AUD/USD to appreciate in the coming quarters due to continued RBA hawkishness, and medium-term USD weakness alongside an anticipated pick-up in Chinese demand over time.
In the near-term, there are slight headwinds from the USD side, which should cap short-term AUD/USD strength, but we still expect slow appreciation over the forecast horizon due to the above factors.
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