Aussie Likely to Be Strong with Economic Recovery

Australian dollar in currency tradingThe Aussie continues to show strength in [B]forex trading[/B] on the currency market. Even though there has been a bit of a correction in the last few hours on profit taking and a subdued risk trade, the Australian dollar is still expected to be one of the more profitable [B]currencies[/B] as economic recovery takes place.

GFT’s [B]Boris Schlossberg[/B] reports in FX360 on the Australian dollar in currency trading:

We continue to be bullish [B]Aussie as the primary proxy for the recovery trade [/B]and believe that it can reach 9500 if risk appetite remains supportive into the close of the year. Alternately, with RBNZ and BOC remaining stationary at least through Q1 of 2010 the unit should also outperform the kiwi and the loonie on the crosses as interest rate differentials continue to widen.

With U.S. employment data improving, and retailers reporting profits, not to mention the economic growth expected in China, it appears that the world [B]economy [/B]could soon be moving toward recovery and growth.

[B]See Also[/B]

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[li]Looking for Forex Trading Trends[/li]Forex trading on the currency market
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