4 Dec 2013
Flash: Facing an Australian “Growth Hole” - TDS
FXstreet.com (London) - Strategists at TD Securities explained that a disappointing third quarter Australian GDP report triggered sharp selling in the AUD.
Key Quotes:
“…with comments from Treasurer Joe Hockey that the country faces a ‘growth hole’ only adding to the pressure on the currency”.
“With a well establish trend lower for AUD/USD, the market has been looking for any excuse to push the pair lower”.
“Broad USD strength has also been a key factor behind selling overnight…”.
“We continue to be broadly bearish on AUD/USD and expect to see sub-0.90 levels in fairly short order”.
Key Quotes:
“…with comments from Treasurer Joe Hockey that the country faces a ‘growth hole’ only adding to the pressure on the currency”.
“With a well establish trend lower for AUD/USD, the market has been looking for any excuse to push the pair lower”.
“Broad USD strength has also been a key factor behind selling overnight…”.
“We continue to be broadly bearish on AUD/USD and expect to see sub-0.90 levels in fairly short order”.