Excerpt from: Forex Forecast
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| January 12, 2009 | | Aussie looks to struggle in 2009 | The forex trading forecast for the Australian dollar is not looking kind. The Aussie is likely to struggle in currency trading on the FX market in 2009 as the global recession continues, and as commodities find it difficult to make a comeback.
The Australian dollar is a commodity currency. It relies on the export of its natural resources to support the currency. With the global recession cutting demand for commodities, the Aussie is having a difficult time in currency trading.
In addition to concerns about commodities, economic stimulus might be needed, meaning that Australia could see interest rate cuts. And interest rate cuts are considered yet another factor that sends currencies lower on the FX market.
| Topic Tags: Aussie currency trading, Australian dollar, commodities, currencies FX market, forex trading, forex trading dollar, forex trading forecast, FX market, recession | |
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