AUD/USD: RBA-induced rally to stall around the 0.73 area – ING AUDUSD RBA China Banks
next week. However, any positive impact on the aussie may be offset by a challenging external environment, economists at ING report.“If our expectation for a 40bp hike proves correct, AUD is looking at some decent upside potential next week. The market’s pricing further down the road is, however, more aggressive , and while the notion of front-loaded tightening can offer support to the currency in the near term, it can limit the room for appreciation in the longer run.
“Adding some limited USD downside risks as the Fed starts a more aggressive phase of monetary tightening, we think any RBA-induced rally in“Contrasting factors suggest a flattish profile in AUD/USD into the summer.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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