Back
10 Sep 2013
Flash: More constructive on AUD, NZD - Westpac
FXstreet.com (Barcelona) - Westpac FX Strategists are increasingly optimistic on the bullish prospects of the Kiwi, which should continue to benefit from lowered Fed tapering expectations. They are also getting more constructive on the AUD.
Key Quotes
"The week ahead is busy with supportive NZ data so further upside is possible toward 0.82, though the RBNZ MPS should have a similar tone to July. Our AUD/USD bias is more positive, helped by better China data, reduced concerns over tapering and the Syria situation."
"However, commodity prices have become more mixed and the local calendar is unlikely to help AUD’s cause, with the unemployment rate set to rise to a 4 year high. RBA cash rate pricing of just -13bp seems prone to widening though the break of AUD/USD 0.9230 could open up further gains near term."
Key Quotes
"The week ahead is busy with supportive NZ data so further upside is possible toward 0.82, though the RBNZ MPS should have a similar tone to July. Our AUD/USD bias is more positive, helped by better China data, reduced concerns over tapering and the Syria situation."
"However, commodity prices have become more mixed and the local calendar is unlikely to help AUD’s cause, with the unemployment rate set to rise to a 4 year high. RBA cash rate pricing of just -13bp seems prone to widening though the break of AUD/USD 0.9230 could open up further gains near term."