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26 Oct 2022

AUD/USD could sustain a substantial drop to the low of 2020 at 0.5506 – Credit Suisse

AUD/USD is set to remain under pressure. Therefore, economists at Credit Suisse expect the pair to potentially dive to the low of 2020 at 0.5506.

AUD/USD to suffer a deeper decline

“With medium-term momentum staying bearish, we look for a fall to the 78.6% retracement of the 2020/21 uptrend and the low from April 2020 at 0.6041/5978 after the pause. Whilst we would not rule out another short pause here, a convincing break lower would raise a prospect for a move all the way to 0.5506 – the low of 2020.”

“We look for any attempt for a stronger move higher to be held at the falling 55-day average at 0.6651.”

 

Oct 26, 2022

IMF’s Georgieva: New PM Sunak to steer UK towards path of medium-term fiscal sustainability

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva told Reuters on Wednesday, she expects new UK PM Sunak to steer Britain t
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Oct 26, 2022

Saudi Aramco’s CEO: Realignment is happening in oil market with Russian discounts

Amin H. Nasser, CEO of Saudi Aramco, said on Wednesday, “realignment is happening in the oil market with Russian discounts.” Additional quotes “There
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