Morgan Stanley: 2017 strongly bearish on the Australian dollar
On Tuesday (3rd) index jumped again to $103.21 points, approaching 14-year new high dollar index under prolonged stress environment, Wall Street investment bank Morgan Stanley said, and the Bank's strong bet against the performance of Australian dollars in the year 2017.
As China's economy continues to slow, President XI Jinping of China at the China Central Finance and Economics leading group meeting last month said that if China's GDP growth rate of 6.5% will bring too much risk, 6.5% don't have to be a basic bottom line of China's economic growth.
The Australian economy over the past ten years, high growth can occur is also widely rely on rapid economic growth in China in the past, in the current economic slowdown, Australia exports raw materials under pressure from the small scale, Morgan Stanley noted that the Australian dollar rally reason can be said to no longer exist.
Combined with United States Federal Reserve (Fed) is continuing to maintain Motonami cycle of raising interest rates, spreads on AUD in Australia, the United States continued to expand under the environment of, Australian dollar rose were also estimated to be relatively narrow, statistics over the past three months, the Australian dollar has depreciated against the dollar as high as 4.42%. Political factors to consider on the other hand, United States Donald Trump are preparing on January 20 after the Office of the President, anti-globalization of trade protection policy, it is estimated that it will strongly impact to Australia's raw materials export prospects. The Financial Times report, Morgan Stanley said, in fact, from 2013, the global volume of trade has continued to decline, which shows the growth prospects of bulk raw materials exporter, remains worrying.
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