AUD/USD: Mildly bearish – ANZ

The near-term outlook for the Australian dollar depends on the grade of the activity slowdown, according to economists at ANZ Bank.

Key quotes

“Shifting risk dynamics around COVID-19 have created downside pressure for the AUD, which is closely linked to activity in Asia via tourism and the export of raw materials.” 

“The near-term prospects for the Aussie are likely to hinge on transmission rates and the scale of the activity slowdown.”     

“Spot: 0.60 ANZ Fair value: 0.64”