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14 Aug 2014
AUD/USD still neutral – Westpac
FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac signalled the neutral stance on the AUD/USD.
Key Quotes
“As we suggested last week, the business and consumer confidence surveys this week provided some welcome relief after the surge in July unemployment”.
“Market pricing of 50% chance of a cash rate cut seems likely to be reduced, benefiting AUD”.
“Tensions in Iraq, Ukraine etc. should maintain a background sense of unease for global equities, producing bouts of weakness on the Aussie”.
“Yet 0.9220/30 should limit losses so long as there is no major deterioration in one of the key flashpoints”.
“This leaves us neutral AUD/USD on the week but with clear risks of any range-break lying on the downside”.
Key Quotes
“As we suggested last week, the business and consumer confidence surveys this week provided some welcome relief after the surge in July unemployment”.
“Market pricing of 50% chance of a cash rate cut seems likely to be reduced, benefiting AUD”.
“Tensions in Iraq, Ukraine etc. should maintain a background sense of unease for global equities, producing bouts of weakness on the Aussie”.
“Yet 0.9220/30 should limit losses so long as there is no major deterioration in one of the key flashpoints”.
“This leaves us neutral AUD/USD on the week but with clear risks of any range-break lying on the downside”.