Forex Flash: AUD/USD retest of parity in the cards – Westpac
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AUD/USD
FXstreet.com (Barcelona) - According to the Westpac Research Team, "Disappointing data continues to weigh on the AUDUSD and a test back towards parity at 1.0000 looks to be on the cards. Additionally, a weakness much beyond that level should be buoyed by CB liquidity."
In terms of the AU outright, "yields continue to range-trade and we are just off the lower boundary of trading range. Nonetheless, we still prefer to be either long or neutral from a tactical perspective." they suggest.
Moving along, "the front-end AU curves will remain flat for now, while global themes and long end supply suggests there is scope for the broader curve to steepen over the week." the team adds.
In terms of the AU outright, "yields continue to range-trade and we are just off the lower boundary of trading range. Nonetheless, we still prefer to be either long or neutral from a tactical perspective." they suggest.
Moving along, "the front-end AU curves will remain flat for now, while global themes and long end supply suggests there is scope for the broader curve to steepen over the week." the team adds.
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