6 Dec 2013
Flash: AUD weakness phase largely complete - Westpac
FXstreet.com (Bali) - Despite the RBA jawboning, Sean Callow, FX Strategist at Westpac, expects the AUD weakness phase largely complete.
Key Quotes
"It will allow AUD to recover on selected crosses. CAD should be one of these, as new BoC governor Poloz reinforces his concern over low inflation."
"Hence we expect AUD/CAD to stabilize near term and then grind up to 0.98-0.99 multi-week. Trade beyond 1.00 looks like a stretch, as it was in Oct."
Key Quotes
"It will allow AUD to recover on selected crosses. CAD should be one of these, as new BoC governor Poloz reinforces his concern over low inflation."
"Hence we expect AUD/CAD to stabilize near term and then grind up to 0.98-0.99 multi-week. Trade beyond 1.00 looks like a stretch, as it was in Oct."