AUD/USD 0.7100 level for year end - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at UOB Group noted that the RBA, on Tuesday, left the cash rate at a record-low of 2.0%, but indicated that weaker inflation levels may allow the bank to ease policy again if needed.

    Key Quotes:

    "We continue to see the cash rate remaining at 2.00% for now, although we acknowledge that low inflation and major banks’ tightening may eventually force the hand of the RBA. At this juncture, we are keeping our AUD/USD forecasts intact, looking for the pair to hover around the 0.710-region into year-end."

    "Australia’s trade deficit was seen contracting in September as resource exports rose at a solid pace, indicating that the lower AUD is having a positive impact on the trade sector."

    "The merchandise trade gap narrowed some 15% from a revised AUD2.71bn in August to AUD2.32bn in September, and against expectations for a AUD2.9bn trade gap in September."
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