8 Jul 2015
Credit Agricole: Australian employment data to disappoint, sell AUD rallies – eFXnews
FXStreet (Barcelona) - The Research Team at Credit Agricole, suggests selling any AUD rallies into Thursday’s employment data release, as noted by eFXnews.
Key Quotes
“The statement was little changed from June. There was some speculation that RBA may re-introduce a more explicit guidance to further easing similar to the April statement. This did not materialize so there was a small bounce in the AUD as some market shorts squared up.”
“Looking ahead, the focus turns to Thursday’s employment data, which may well disappoint.”
“From that angle it cannot be excluded that the market will start pricing in additional rate cuts anew. Hence we remain of the view that AUD rallies should be sold.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The statement was little changed from June. There was some speculation that RBA may re-introduce a more explicit guidance to further easing similar to the April statement. This did not materialize so there was a small bounce in the AUD as some market shorts squared up.”
“Looking ahead, the focus turns to Thursday’s employment data, which may well disappoint.”
“From that angle it cannot be excluded that the market will start pricing in additional rate cuts anew. Hence we remain of the view that AUD rallies should be sold.”
This content has been provided under specific arrangement with eFXnews.