6 May 2015
Sell AUD/USD towards 0.80 – BAML
FXStreet (Edinburgh) - Analyst Adarsh Sinha at BAML suggested that spikes to the 0.80 area could be considered as opportunities to seel the pair.
Key Quotes
“We expect the AUD to be range bound over the coming month, as investors judge the impact of China easing on commodity demand, as well as the RBA’s policy stance. We remain bearish AUD medium-term with a high conviction”.
“We believe the exchange rate will need to stay below “fair value” if it is to provide any degree of support to the economy. The RBA will continue to use its policy levers if needed to achieve this”.
“We expect AUD/USD to end 2015 at 0.73 and our 2016 at 0.68. We believe any move above 0.80 would offer a good opportunity to sell AUD”.
Key Quotes
“We expect the AUD to be range bound over the coming month, as investors judge the impact of China easing on commodity demand, as well as the RBA’s policy stance. We remain bearish AUD medium-term with a high conviction”.
“We believe the exchange rate will need to stay below “fair value” if it is to provide any degree of support to the economy. The RBA will continue to use its policy levers if needed to achieve this”.
“We expect AUD/USD to end 2015 at 0.73 and our 2016 at 0.68. We believe any move above 0.80 would offer a good opportunity to sell AUD”.