25 Jun 2015
Near term bias for AUD/USD appears neutral – Westpac
FXStreet (Edinburgh) - Strategist Sean Callow at Westpac sees the outlook on the pair to be on the neutral side in the near term.
Key Quotes
“The quiet local calendar and lack of urgency at the RBA to change policy any time soon reinforces our existing neutral bias on AUD/USD for the week ahead”.
“Iron ore prices are holding up quite well but soft Chinese activity and likely increased supply suggests a return to the $50s before too long”.
“USD sentiment should also gradually solidify. Look for AUD/USD 0.7600-0.7850 for now, with a multi-week bias to the downside and 0.73 by end-Sep”.
Key Quotes
“The quiet local calendar and lack of urgency at the RBA to change policy any time soon reinforces our existing neutral bias on AUD/USD for the week ahead”.
“Iron ore prices are holding up quite well but soft Chinese activity and likely increased supply suggests a return to the $50s before too long”.
“USD sentiment should also gradually solidify. Look for AUD/USD 0.7600-0.7850 for now, with a multi-week bias to the downside and 0.73 by end-Sep”.