The Australian Dollar made a new low for the year in the third quarter as external factors hampered the outlook. Will the risk environment continue to weigh the AUD/USD down?

Throughout the third quarter, there had been somewhat of a reversal in the reflation trade as concerns over the peak in the global growth lingered, alongside the continued spread of the Delta variant.

The ECB, and by extension the Euro, faces the unenviable combination in Q4 of weakening economic growth and above-target inflation.