交易新闻
27 Apr 2015
AUD/USD year-end target at 0.72 – ANZ
FXStreet (Barcelona) - Daniel Been of ANZ, expects the range-bound price action in the AUD against the USD to continue in the near term, and further adds that bias remains towards USD strength.
Key Quotes
“In the medium term we think that continued weakness in the USD, with little recovery elsewhere will be negative for global growth, for risk and ultimately for the AUD.”
“However, that point is still a way off, and we expect the AUD will continue to trade in a consolidating range below USD0.80 for the time being.”
“Domestically, we did get more information on the RBA’s operating framework. While the RBA retains its easing bias, a speech from Governor Stevens highlighted that policymakers are unsure of the efficacy of further rate cuts, particularly in an environment of low interest rates and high household debt. This more likely means that the market has largely priced the full RBA easing cycle now and this can only provide limited downside for the AUD.”
“Drawing a line here is likely to mean the AUD will find a bit more support on the crosses. In this light the risk reward in the AUD/NZD is looking better to us and we expect that it should rally from here.”
“We remain structurally bearish on the AUD, targeting USD0.72 by December 2015.”
Key Quotes
“In the medium term we think that continued weakness in the USD, with little recovery elsewhere will be negative for global growth, for risk and ultimately for the AUD.”
“However, that point is still a way off, and we expect the AUD will continue to trade in a consolidating range below USD0.80 for the time being.”
“Domestically, we did get more information on the RBA’s operating framework. While the RBA retains its easing bias, a speech from Governor Stevens highlighted that policymakers are unsure of the efficacy of further rate cuts, particularly in an environment of low interest rates and high household debt. This more likely means that the market has largely priced the full RBA easing cycle now and this can only provide limited downside for the AUD.”
“Drawing a line here is likely to mean the AUD will find a bit more support on the crosses. In this light the risk reward in the AUD/NZD is looking better to us and we expect that it should rally from here.”
“We remain structurally bearish on the AUD, targeting USD0.72 by December 2015.”