AUD/USD poised to resume the downside in Q116 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In the opinion of strategists at Westpac, the bearish tone is expected to return around the Aussie dollar in the medium term.

    Key Quotes

    “Commodity prices should ultimately see AUD break ranges to the downside in Q1, but short term things look brighter”.

    “Last week's super strong surge in Australian jobs is surely flattered by statistical quirks but there is little debate the job market has improved”.

    “Money markets now share the RBA’s optimism, pricing only a 10-15% chance of a Feb 2016 rate cut”.

    “Along with the potential for at least kneejerk USD selling on a vague outlook from Yellen, AUD should emerge from the week in decent shape. The pair should find buyers into 0.7160 pre-FOMC, with upside scope later in the week to 0.7335, at a stretch 0.7385 (which should hold)”.
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