\n\tBy Rudi Filapek-Vandyck<\/p>\n
\n\tForget about the Australian dollar reaching parity against the US dollar for the time being. Right now, it's all about global risk aversion and severe headwinds for the AUD.<\/p>\n
\n\tCurrency strategists at the National Australia Bank believe international FX traders will continue a bias to sell rallies in AUD\/USD and in AUD\/JPY and this should keep a lid on any advance in the near future.<\/p>\n
\n\tTo make matters worse, the technical picture has now also turned negative for the Aussie. NAB strategists highlight the fall below the 100-day moving average of 0.9079 in AUD\/USD. They believe traders will now be targeting 0.9000 then 0.8800.<\/p>\n
\n\tApart from a seemingly less hawkish RBA, NAB suggests uncertainty over the Australian government's plans to introduce a 40% resources super profits tax also continues to weigh on the AUD.<\/p>\n
\n\tHaving said all this, the strategists state they’d be surprised if the government isn’t forced to modify its plans for a new resources tax, but for now… uncertainty rules and thus the Aussie dollar seems to have a tough task at hand to remain at present levels against the USD and the yen. As at this morning, AUD\/USD is at 0.9086 and AUD\/JPY is at 85.16.<\/p>\n","protected":false},"excerpt":{"rendered":"
Talk about AUD\/USD parity has evaporated from the market place, with the AUD now facing tough headwinds.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[29],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56574"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56574"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56574\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}