25 Oct 2013
Flash: AUD/USD buyers should emerge on dips to the mid-0.95s - Westpac
FXstreet.com (Barcelona) - According to Westpac Global Strategy Team, AUD/USD should remain combatant this week.
Key Quotes
"AUD/US hit some serious hurdles in the mid-0.97s and should remain more comfortable with a 0.96 handle. The largely empty local calendar places more weight on the global mood which we see as mixed but still broadly USD-negative, suggesting we keep our upward bias for the week."
"Trade in the low-mid 0.97s seems likely but not as far as 0.9790. Buyers should emerge on dips to the mid-0.95s."
"Longer term, AUD/USD could benefit from the higher debt issuance suggested by the unexpectedly large increase in Australia’s debt ceiling, from A$300bn to $500bn. But short term the better plays are likely to be AUD/JPY and AUD/NZD."
Key Quotes
"AUD/US hit some serious hurdles in the mid-0.97s and should remain more comfortable with a 0.96 handle. The largely empty local calendar places more weight on the global mood which we see as mixed but still broadly USD-negative, suggesting we keep our upward bias for the week."
"Trade in the low-mid 0.97s seems likely but not as far as 0.9790. Buyers should emerge on dips to the mid-0.95s."
"Longer term, AUD/USD could benefit from the higher debt issuance suggested by the unexpectedly large increase in Australia’s debt ceiling, from A$300bn to $500bn. But short term the better plays are likely to be AUD/JPY and AUD/NZD."