2 Feb 2015
AUD to remain under pressure - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects AUD to remain under pressure as RBA rate cut expectations loom, further anticipating the pair to make a move towards 0.7700 levels.
Key Quotes
"With markets virtually penciling in a RBA rate cut on Tuesday, expect the AUD to continue to be weighted, given also prevailing global growth concerns.”
“A retracement towards the 0.7840 area cannot be ruled out if risk appetite improves, although a relapse towards 0.7700 may remain on the cards if the RBA adopts a more bearish tone as widely expected."
Key Quotes
"With markets virtually penciling in a RBA rate cut on Tuesday, expect the AUD to continue to be weighted, given also prevailing global growth concerns.”
“A retracement towards the 0.7840 area cannot be ruled out if risk appetite improves, although a relapse towards 0.7700 may remain on the cards if the RBA adopts a more bearish tone as widely expected."