24 Apr 2014
Time for the AUD to correct? – UBS
FXStreet (Córdoba) - The UBS analyst team thinks that the recent AUD/USD rally has gone too far and continue to see the pair below 0.9000 in coming months.
Key quotes
"On Tuesday, Australian inflation came in below market as well as the Reserve Bank of Australia's expectation. This gave the AUD a first hit. The Chinese PMI was published only a little later and remained in contractionary territory. This gave the AUD another hit".
"Despite a nice carry in the AUD, we believe that the recent rally has gone too far and continue to see AUDUSD below 0.90 in coming months".
Key quotes
"On Tuesday, Australian inflation came in below market as well as the Reserve Bank of Australia's expectation. This gave the AUD a first hit. The Chinese PMI was published only a little later and remained in contractionary territory. This gave the AUD another hit".
"Despite a nice carry in the AUD, we believe that the recent rally has gone too far and continue to see AUDUSD below 0.90 in coming months".