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31 Mar 2015
Credit Agricole: AUD remains a sell on rallies – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole views that the recent soft economic data out of Australia suggests further easing by the RBA, which implies that AUD is set to weaken ahead.
Key Quotes
“In Australia, at 6.2% (cons. 6.3%, prev.6.2%) and at 1.1% (prev. 1.8%) February private sector credit and new home sales fell, each respectively.”
“Given weak price developments and unstable external demand conditions as related to Asia it cannot be excluded that the RBA will turn more aggressive on monetary policy as soon as next week.”
“Accordingly we expect the AUD to stay a sell on rallies, against both the USD and NZD.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“In Australia, at 6.2% (cons. 6.3%, prev.6.2%) and at 1.1% (prev. 1.8%) February private sector credit and new home sales fell, each respectively.”
“Given weak price developments and unstable external demand conditions as related to Asia it cannot be excluded that the RBA will turn more aggressive on monetary policy as soon as next week.”
“Accordingly we expect the AUD to stay a sell on rallies, against both the USD and NZD.”
This content has been provided under specific arrangement with eFXnews.