AUD/USD turnaround on the cards? Two reasons to watch out – Goldman Sachs

In the view of the analysts at Goldman Sachs, the vaccine optimism and a Blue wave sweeping win could boost sentiment and turn in favor of the AUD bulls in the coming weeks.

Key quotes

“AUD rally could be frustrated by easing expectations ahead of RBA’s 2 November meeting.“

“That said, the risk backdrop over the next few weeks could quickly turn more AUD-positive if we remain on track for vaccine approval by year-end and we see a Democratic sweep in the US elections, both likely to become clear before the next RBA meeting in mid-November.”