16 Feb 2015
Barclays: Trading AUD into tomorrow’s RBA’s minutes – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Barclays’ believes AUD will remain under pressure into RBA’s minutes, with dovish RBA, disappointing Australian employment data and a hawkish Fed supporting the bearish view.
Key Quotes
“The main focus [..] will be the minutes of the 3 February board meeting, which was when the RBA commenced a new easing cycle. The minutes are less important than usual given they predate the Governor’s parliamentary testimony, but will be interesting to see whether they shed any light on the timing of the next rate cut (we are forecasting a May cut, but readily acknowledge the risk of an earlier move).”
“With little important releases, external market conditions will be more important drivers of the AUD.”
“With the recent disappointing employment data in Australia and the dovish talk of the RBA standing in huge contrast to the strong labor market conditions and hawkish Fed comments in the US, we believe the AUD should stay under pressure."
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The main focus [..] will be the minutes of the 3 February board meeting, which was when the RBA commenced a new easing cycle. The minutes are less important than usual given they predate the Governor’s parliamentary testimony, but will be interesting to see whether they shed any light on the timing of the next rate cut (we are forecasting a May cut, but readily acknowledge the risk of an earlier move).”
“With little important releases, external market conditions will be more important drivers of the AUD.”
“With the recent disappointing employment data in Australia and the dovish talk of the RBA standing in huge contrast to the strong labor market conditions and hawkish Fed comments in the US, we believe the AUD should stay under pressure."
This content has been provided under specific arrangement with eFXnews.