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AUD/USD: Holding on to the 0.68 levels for the moment - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Sean Callow, Research Analyst at Westpac, notes that the AUD/USD started the year at 0.73 so the past week’s lows around 0.6830 allow for a considerably poorer global economy.

    Key Quotes

    “Local data has been scant in recent days, leaving AUD at the mercy of equity volatility yet even fresh lows on major bourses have not produced a break of 0.68. CPI is the main event locally, with downside risks potentially stoking further RBA easing talk.

    However, 40% chance of a cut by March seems ample risk already and our view remains that the RBA will neither cut nor encourage expectations for a move. This should help AUD/USD trade mostly 0.68-0.7050, retaining a neutral bias on the week.”
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