28 May 2014
EUR/AUD: Further euro weakness ahead - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, anticipates more downside on EUR/AUD going forward.
Key Quotes
"AUD should continue to trend higher against EUR, targeting 1.45 or below multi-week. We expect ECB president Draghi to meet, perhaps beat expectations for easing on 5 June and not rule out further action if needed."
"AUD meanwhile probably has a sufficiently gloomy outlook priced in, with domestic data overdue for at least some recovery and momentum in China and thus key commodities stable to a touch firmer near term."
Key Quotes
"AUD should continue to trend higher against EUR, targeting 1.45 or below multi-week. We expect ECB president Draghi to meet, perhaps beat expectations for easing on 5 June and not rule out further action if needed."
"AUD meanwhile probably has a sufficiently gloomy outlook priced in, with domestic data overdue for at least some recovery and momentum in China and thus key commodities stable to a touch firmer near term."