Filed Under:
Forex pairs in this Article » AUD/USD (Barcelona) - "The recent RBA's decision seemingly only gave a mild easing bias and better jobs data should limit the AUDUSD downside to the 1.0330/50 area where the 100-day MA and 200-day MA are crossing paths. These however will give way if we see much more of Wednesday's dismal US equity price action." writes the Westpac Strategy Team.

"Local data should have little impact and as such, we look for the post-US election high of 1.0480 to cap near term." they add.

Looking ahead, rhe RBA's quarterly SoMP (Friday) will be scrutinized closely by a market very unsure what will be the trigger for further easing, given one -25bp cut hardly seems sufficient given the weaker growth outlook (the forecast table is probably the first place to look). If financial press are to( be believed, the RBA is quite interested in the Q3 wage cost index (Wed) but it rarely surprises. Also on the slate are Sep finance approvals and Oct NAB business survey (Mon) and RBA Oct reserves (Wed), which will be pulled to pieces.
comments powered by Disqus