The Aussie is falling. Overview for 16.11.2021
AUDUSD is retreating; the Chinese aggression shouldn’t be underestimated.
The Australian Dollar is falling against the USD on Tuesday afternoon. The current quote for the instrument is 0.7339.
While there are no important statistics from Australia, the centre stage is taken by geopolitics, which is not quite calm right now.
Yesterday, the Chinese media called on Australia not to pry into other country’s affairs, meaning the conflict between China and Taiwan. Chinese authorities say that in the Australian army takes part in military operations across the Taiwan Strait, China will have to respond.
It seems like the relations between China and Australia are at a low ebb, and that’s not good news: China remains Australia’s key trade and economic partner and geopolitical problems may have an extremely negative influence on their cooperation. At the same time, many Australian politicians don’t think that the relations between Taiwan and Australia are vitally important.
The Aussie rate will negatively respond to any minor aspects in the Chinese-Australian relations.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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