Forex Forecast: AUD/USD

The AUD/USD weekly forecast is bearish as the US dollar is not pausing its rally to the multi-month highs and risk sentiment remains sour.

The AUD/USD fell to 0.7105, a new low since 2021, and bounced only slightly from the close of the week as investor confidence and demand for the commodity-pegged currency collapsed.

• Key Events In Australia From Aug 23-27

This week, Markit will release its preliminary US and Commonwealth Bank PMIs for August. The US calendar for the week will include durable goods orders as well as retail sales in Australia.

• Key Events In The USA From Aug 23-27

Starting Thursday, the Jackson Hole Symposium will be the highlight of the week. Market participants follow the event to get updated information about economic policy from the event, which is attended by several central bank governors.

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