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AUD/USD in focus on RBA week - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Scotiabank explained that AUD is soft having weakened into the release of softer PMI data from China.

    Key Quotes:

    "AUD’s subsequent stabilization hints to moderate relief despite the drop in China’s manufacturing measure to a fresh multi-year low of 49.4.

    The RBA policy decision is the primary near term risk for AUD, with expectations of a hold at 2.00%.

    Only one of 29 Bloomberg survey respondents is looking to a cut at this meeting, however we note that OIS are pricing a roughly 80% chance of a 25bpt cut over the next 12 months. Recent inflation data have served to reduce expectations for easing."
    For more information, read our latest forex news.
     

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