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16 Dec 2014
Credit Agricole: Keep selling AUD on rebounds – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole suggest to keep selling AUD/USD on any rebounds as RBA rate pressures are likely to persist.
Key Quotes
“Further weakening commodity price developments and a rising probability of the RBA considering lower rates next year should keep the AUD a sell on rallies, for instance against the USD.”
“According to the latest data, labour market conditions improved, which should make a case of stabilising price developments. However, as most of the improvement was related to part-time jobs and as there is no indication of stabilising commodity price developments we expect inflation to still be subject to downside risk, regardless of the AUD’s last few weeks’ depreciation.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Further weakening commodity price developments and a rising probability of the RBA considering lower rates next year should keep the AUD a sell on rallies, for instance against the USD.”
“According to the latest data, labour market conditions improved, which should make a case of stabilising price developments. However, as most of the improvement was related to part-time jobs and as there is no indication of stabilising commodity price developments we expect inflation to still be subject to downside risk, regardless of the AUD’s last few weeks’ depreciation.”
This content has been provided under specific arrangement with eFXnews.