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3 Mar 2015
Barclays: AUD gains post-RBA to remain short-lived – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Barclays’ comments that the post-RBA jump seen by AUD/USD will be short-lived, as markets have only pushed back the expectations of rate-cut, year-end forecast fir the pair remains at 0.75.
Key Quotes
“Given that the RBA did not move today despite the majority of the market expecting a cut and against the background of short positioning, the AUD may benefit from today’s unchanged decision in the short term. However, gains are likely to be limited (technical resistance is seen around AUDUSD 0.7915),"
"Moreover, given that markets will likely push back expectations of easing rather than remove such expectations, any gain in the AUD is likely to be short lived.”
“We are cognizant of the fact that the AUD has declined sharply over recent months but expect further gradual weakness in the months ahead, with our end-2015 forecast remaining at AUDUSD 0.75,"
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Given that the RBA did not move today despite the majority of the market expecting a cut and against the background of short positioning, the AUD may benefit from today’s unchanged decision in the short term. However, gains are likely to be limited (technical resistance is seen around AUDUSD 0.7915),"
"Moreover, given that markets will likely push back expectations of easing rather than remove such expectations, any gain in the AUD is likely to be short lived.”
“We are cognizant of the fact that the AUD has declined sharply over recent months but expect further gradual weakness in the months ahead, with our end-2015 forecast remaining at AUDUSD 0.75,"
This content has been provided under specific arrangement with eFXnews.