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30 Jun 2014
AUD focused on RBA and Stevens – Westpac
FXStreet (Edinburgh) - The research team at Westpac Global Strategy Group highlights this week’s main events for the Aussie dollar.
Key Quotes
“The RBA statement (Tue) and Gov Stevens speech (Thu) present notable risk torong>AUD , with the Aussie largely brushing off the fresh multi-year lows in key commodity prices mid-June”.
“The RBA is already sounding a little less confident about the domestic economy and May retail sales (Thu) probably won’t see consumers too upbeat amid the Budget headlines and sentiment slide”.
“Pricing for RBA easing could easily extend further. AUD thus seems at risk of at least modest losses on the week, perhaps saved only vs USD by a potential downside surprise on US payrolls, with US yields already on another downswing”.
“Short AUD vs. GBP remains our preferred trade”.
Key Quotes
“The RBA statement (Tue) and Gov Stevens speech (Thu) present notable risk to
“The RBA is already sounding a little less confident about the domestic economy and May retail sales (Thu) probably won’t see consumers too upbeat amid the Budget headlines and sentiment slide”.
“Pricing for RBA easing could easily extend further. AUD thus seems at risk of at least modest losses on the week, perhaps saved only vs USD by a potential downside surprise on US payrolls, with US yields already on another downswing”.
“Short AUD vs. GBP remains our preferred trade”.