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13 Aug 2013
Flash: AUD/USD fairly valued at 0.9100? – Westpac
FXstreet.com (New York) - Global FX Strategist Sean Callow at Westpac analyzes the short-term outlook of the AUD/USD.
Key quotes
“The AUD/USD seems set for further reprieve near-term, with the RBA rate cut accompanied by a neutral near term outlook, commodity prices bouncing and spec positioning stretched.”
Moreover, “the AUD/USD should extend recent gains to the 0.9300/50 region into late August. Further out however, Australia’s very sluggish economy should keep a lid on Australian yields and AUD, though 0.8850 is likely to hold multi-week. Fair value looks to be around 0.91.”
Key quotes
“The AUD/USD seems set for further reprieve near-term, with the RBA rate cut accompanied by a neutral near term outlook, commodity prices bouncing and spec positioning stretched.”
Moreover, “the AUD/USD should extend recent gains to the 0.9300/50 region into late August. Further out however, Australia’s very sluggish economy should keep a lid on Australian yields and AUD, though 0.8850 is likely to hold multi-week. Fair value looks to be around 0.91.”