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AUD Upside Risk Intact: Outlook & Forecasts - Credit Agricole
The AUD has been well supported recently, irrespective of rising risk aversion. However, it still appears that speculative oriented investors have been selling the currency on the back of the RBA’s more cautious stance when it comes to the currency’s valuation and due to intact geopolitical tensions. All of the above may suggest that the AUD is subject to position squaring related upside risk should risk sentiment fail to deteriorate further or/and RBA monetary policy expectations start to stabilize. Weakening labour market conditions were among the main reasons driving investors’ RBA easing expectations higher ... (full story)