27 Aug 2015
Antipodeans: medium term downside risk - ANZ
FXStreet (Guatemala) - Analysts at ANZ research explained that there is medium term weakness ahead for the Antipodeans.
Key Quotes:
"Despite the ongoing stabilisation in domestic fundamentals, we expect further AUD depreciation as the currency’s underlying risk profile continues to be marked down."
"Similarly, domestic drivers in New Zealand are unlikely to contribute to further currency weakness in the near term, but both global and domestic drivers remain consistent with further medium term weakness. Downside risks in the EUR have reduced, with the currency correlated negatively with risk appetite at present."
Key Quotes:
"Despite the ongoing stabilisation in domestic fundamentals, we expect further AUD depreciation as the currency’s underlying risk profile continues to be marked down."
"Similarly, domestic drivers in New Zealand are unlikely to contribute to further currency weakness in the near term, but both global and domestic drivers remain consistent with further medium term weakness. Downside risks in the EUR have reduced, with the currency correlated negatively with risk appetite at present."