AUD Keeps Rising due to the Recovery in Global Stock Markets| KOL Analysis•Jasper Lo

With an increasing worse pandemic, AUS/USD keeps being strong with an irresistible force. So far, AUD has dramatically rallied by 27% to 1,500 points since the low level of 0.5506 in March. Two reasons of a strong AUS are in the following.

To begin with, many countries in the world continued to cut interest rate and purchase bonds due to the aggravated pandemic in order to bolster their economy, which, to some degree, helps to fuel the global stock markets. For example, the Nasdaq 100 Index has bounced back to a high level of 10.500 from the low level of 6,772 of March 24, up by 55% to 3,728 points. Even if the situation of COVID-19 continues to worsen, global stock markets show a prolonged recovery, which leads to an outperforming AUD related closely to the markets.

In addition, the economic data in Australia becomes better simultaneously, causing AUD/USD to rise. For instance, more indicators released last week, including AIG Manufacturing Index in June, Building Permits in May, Manufacturing Purchasing Managers‘ Index, AIG Performance of Construction Index and Services Purchasing Managers’ Index in June, performed significantly better than the previous. Based on the favorable factors and better economic data, traders are continuously optimistic about AUD.

In terms of the expected market trend, more focus should be put on the rate-setting meeting by the Reserve Bank of Australia(RBA) at 12:30 pm Hong Kong time tomorrow as well as the post-meeting statement. Under the current circumstance, the RBA doesnt need to deliver dovish suggestion, so AUD/USD is likely to challenge the upward resistance level of 0.7082. In a short time, it is difficult for the pair to break the major upward resistance level of 0.7206 despite an enormous increase.

[About The Author]

Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.

Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.

Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:

-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch

-Guest of honor invited by Now Finance Channel - Forex Reports

-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities

-Guest of honor invited by ViuTV - Investor Smarter Group

-Columnist of Finance and Forex Market of Ming Pao

-Presenter of Finance and Forex Forecast of Ming Pao

-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance

-Appointed lecturer of Ming Pao Investment Seminar and Paid Course

-Author of the best seller Investment 36 Stratagem

-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net

-Guest of honor of Open Good Morning of ET Net

-Guest of honor of Metro Finance Channel - Market Opening, Instant Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market Analysis

-Guest of honor of New Era of Investment of RTHK

-Columnist of Capital Commodities of Capital Weekly

-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond

-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture

-Guest presenter of Weekly Investment in the World of Enrich Culture

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