AUD: Well supported near term – ANZ

Giulia Lavinia Specchia, Analyst at ANZ suggests that the execution timeframe in the AUD continues to remain key.

Key Quotes

“In the near term, the fundamental outlook remains positive, with a combination of decent domestic data and higher commodity prices providing support for the currency. However, at current levels, this looks well accounted for.”

“USD-related uncertainty is also providing a leg of support to the AUD. We question the sustainability of this leg of support.”

“Longer term, we remain bearish, as global liquidity dynamics come into focus.”