26 Nov 2014
AUD/USD pushed lower after Lowe’s comments - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes AUD/USD was pushed lower after the RBA’s Lowe reiterated the central bank view that that a lower AUD would aid in the economy’s adjustment and the currency may be expected to see more adjustments relative to fundamentals.
Key Quotes
"With global growth concerns still circulating, the AUD on Tuesday paid little heed to the OECD calling for the RBA to begin withdrawing monetary stimulus in 2Q 15."
"We grow increasingly heavy towards the pair with the global prognosis still looking unsteady and amidst calls sustained monetary accommodation across large economies outside of the US."
"With 0.8600 now in the rear view mirror, expect markets to eye the 0.8500 handle intra-day."
Key Quotes
"With global growth concerns still circulating, the AUD on Tuesday paid little heed to the OECD calling for the RBA to begin withdrawing monetary stimulus in 2Q 15."
"We grow increasingly heavy towards the pair with the global prognosis still looking unsteady and amidst calls sustained monetary accommodation across large economies outside of the US."
"With 0.8600 now in the rear view mirror, expect markets to eye the 0.8500 handle intra-day."