2 Dec 2013
Flash: AUD/USD: Outperforming Ahead of the RBA - TDS
FXstreet.com (London) - Strategists at TD Securities explained a better than expected Chinese manufacturing PMI and strong NZ terms of trade helped boost the Antipodean currencies to the top of the G10 performance rankings at the open of trading for what will be a very busy week.
Key Quotes:
“Much of the developed world has significant domestic macro developments this week and for Australia, tonight brings the retail sales report as well as the RBA’s final meeting of 2013”.
“The Bank is widely expected to keep a neutral tone to its statement, in which case the important focus for currency markets will be the characterisation of the AUD at current levels”.
“Despite the steady selloff in AUD/USD from the October highs near 0.97 to near 0.91/92 at the moment, we still expect the Bank to take another swipe at the ‘overvalued’ currency”.
Key Quotes:
“Much of the developed world has significant domestic macro developments this week and for Australia, tonight brings the retail sales report as well as the RBA’s final meeting of 2013”.
“The Bank is widely expected to keep a neutral tone to its statement, in which case the important focus for currency markets will be the characterisation of the AUD at current levels”.
“Despite the steady selloff in AUD/USD from the October highs near 0.97 to near 0.91/92 at the moment, we still expect the Bank to take another swipe at the ‘overvalued’ currency”.