5 Nov 2013
Flash: Look for an Aussie at 0.97 over next month - Westpac
FXstreet.com (Barcelona) - According to Westpac FX Strategists, while the AUD/USD has pulled back much more than anticipated, support at 0.9410 should hold now, with the Bank recommending higher quotes into year-end.
Key Quotes
"Australia’s data flow is likely to be mixed at best (e.g. Oct jobs on Thu) but US payrolls should be weak too. The RBA could take another verbal swing at AUD but only in the context of a steady hand on rates, limiting the threat to AUD."
"0.9400-0.9575 should contain most trade near term. We are broadly neutral on the week but still look for 0.97 over the next month or so as USD weakness returns. Friday’s US employment report should renew the bearish USD case."
Key Quotes
"Australia’s data flow is likely to be mixed at best (e.g. Oct jobs on Thu) but US payrolls should be weak too. The RBA could take another verbal swing at AUD but only in the context of a steady hand on rates, limiting the threat to AUD."
"0.9400-0.9575 should contain most trade near term. We are broadly neutral on the week but still look for 0.97 over the next month or so as USD weakness returns. Friday’s US employment report should renew the bearish USD case."