Forex Flash: AUD/USD buy on dips – Rabobank
Forex pairs in this Article »
AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is the best performer so far against the greenback, eyeing 1.0580 as of writing and benefiting of the increasing risk-on mood among investors and the recent positive data out of the Chinese trade balance.
"The fact that the market is less convinced of another rate cut from the RBA next month is a supportive factor for the AUD (we expect a steady policy announcement on February 5). More generally, ample liquidity levels and investors' demand for yield is likely to keep the AUDUSD supported. As a consequence we expect AUDUSD to hold its own ground this year and would look to buy AUDUSD on dips", suggests Jane Foley, Senior Currency Strategist at Rabobank.
"The fact that the market is less convinced of another rate cut from the RBA next month is a supportive factor for the AUD (we expect a steady policy announcement on February 5). More generally, ample liquidity levels and investors' demand for yield is likely to keep the AUDUSD supported. As a consequence we expect AUDUSD to hold its own ground this year and would look to buy AUDUSD on dips", suggests Jane Foley, Senior Currency Strategist at Rabobank.
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