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Upside risk for the Aussie: Goldman turns bullish on economy
The Aussie dollar may have fallen steeply over the past 12 days but Goldman Sachs reckons the currency is set for a rebound that could possibly take it over the US80¢ level if commodity prices sustain some of their recent strong gains. In a surprisingly upbeat note on the Australian economy, Goldman Sachs chief economist Tim Toohey has upgraded his GDP growth forecasts for the coming four years by as much as 0.5 percentage points and says there is a growing chance the Reserve Bank will start lifting interest rates in the second half of 2017, which should all support the currency."As we look out to 2017 and ... (full story)
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