26 May 2015
Outlook for AUD/USD and crosses – ANZ
FXStreet (Barcelona) - The Research Team at ANZ gives the outlook and expected range for AUD/USD and crosses.
Key Quotes
“AUD/USD: US data remains the primary event for currency with May’s Richmond Fed Manufacturing Index, consumer confidence, and services PMI the highlights in a packed night. Both the Fed’s Mester and Fischer continued to point to a 2015 lift-off, but both stress it’s data dependent. Domestically, the calendar is empty, with the CAPEX survey on Thursday the next big market mover.
Expected range: 0.7740 – 0.7950”
“AUD/NZD: ANZ expects a modest NZD200m nsa NZ trade surplus today, which would widen the annual trade deficit further. Confirmation of declining export earnings, which are a shrinking source of NZD demand, is expected to reduce the ability for this cross to sell-off.
Expected range: 1.0660 – 1.0770”
“AUD/EUR: After stating that they would front-load QE purchases, the ECB revealed a near EUR2bn drop in weekly purchases last night. The Greek saga rumbles on, with discussion over the implications of the weekend’s Spanish regional elections. Markets note that the Spanish General election is later this year.
Expected range: 0.7050 – 0.7240”
“AUD/JPY: USD/JPY continues to threaten to break higher, ensuring this cross is stable.
Expected range: 93.50 – 96.60”
“AUD/GBP: GBP has a relatively quiet week with the second read of Q1 GDP the only data of note, but second reads rarely surprise in the UK.
Expected range: 0.4980 – 0.5120”
Key Quotes
“AUD/USD: US data remains the primary event for currency with May’s Richmond Fed Manufacturing Index, consumer confidence, and services PMI the highlights in a packed night. Both the Fed’s Mester and Fischer continued to point to a 2015 lift-off, but both stress it’s data dependent. Domestically, the calendar is empty, with the CAPEX survey on Thursday the next big market mover.
Expected range: 0.7740 – 0.7950”
“AUD/NZD: ANZ expects a modest NZD200m nsa NZ trade surplus today, which would widen the annual trade deficit further. Confirmation of declining export earnings, which are a shrinking source of NZD demand, is expected to reduce the ability for this cross to sell-off.
Expected range: 1.0660 – 1.0770”
“AUD/EUR: After stating that they would front-load QE purchases, the ECB revealed a near EUR2bn drop in weekly purchases last night. The Greek saga rumbles on, with discussion over the implications of the weekend’s Spanish regional elections. Markets note that the Spanish General election is later this year.
Expected range: 0.7050 – 0.7240”
“AUD/JPY: USD/JPY continues to threaten to break higher, ensuring this cross is stable.
Expected range: 93.50 – 96.60”
“AUD/GBP: GBP has a relatively quiet week with the second read of Q1 GDP the only data of note, but second reads rarely surprise in the UK.
Expected range: 0.4980 – 0.5120”