# Australian Dollar Forecasts Downgraded at Commonwealth Bank of Australia

> Commonwealth Bank of Australia downgraded its Australian dollar forecasts, expecting further weakness in AUD/USD this year. It attributed the decline to falling commodity prices after China's Two Sessions failed to deliver expected stimulus, and it estimated export commodity prices could fall 15-20%.

- Date: 2023-04-18 · published 2023-04-18T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36648-australian-dollar-forecasts-downgraded-at-commonwealth-bank-of-australia
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Expected falls in Australian export commodity prices, driven by weak Chinese demand, point to softer metals and bulk exports, with a weaker AUD reflecting that outlook.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/aud/18543-australian-dollar-forecasts-downgraded-at-commbank-research

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.