Economists predict elevated energy prices amid a devastating war in Ukraine, the prospect of higher interest rates and strong global growth will underpin the Australian dollar in 2022, propelling it to its highest level since June 2021.of 33 economists predicts the local currency dollar will appreciate to US76¢ by December.
The war in Ukraine has rocked commodity markets following supply constraints and sanctions on Russia, a major exporter of oil, natural gas, coal, steel products and wheat.Soaring prices of commodities will deliver large dividend payments for mining companies and underpin economic growth. Michael Blythe at Pinpoint Macro Analytics echoes that view. “All the ducks are lining up for the Aussie,” he said. “High commodity prices, the RBA joining the rate rise club [and] ongoing current account surpluses.”
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Source: FinancialReview - 🏆 2. / 90 Read more »