Wednesday, November 4, 2015

AUD/USD: one of the better G10's - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that AUD/USD is outperforming.

Key Quotes:

Its strength fading into the NA open overnight following a knee-jerk bounce in response to the RBA hold.

Expectations had been nearly balanced heading into the policy decision, leaving AUD vulnerable regardless of the outcome.

The RBA notably introduced a dovish bias to the policy outlook, given that downside risks to the inflation forecast ‘may afford scope for further easing’.

We look to AUD weakness into year-end and through 2016, with a Q415 forecast of 0.70 and a Q416 forecast of 0.65."
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