9 Jul 2015
Credit Agricole: AUD bearing the brunt of China stocks sell-off – eFXnews
FXStreet (Barcelona) - The Credit Agricole Team sees bearish potential for AUD/NZD towards 1.10 into the ongoing Chinese stock sell-off, as noted by eFXnews.
Key Quotes
“Alternate trading themes to risk aversion are scarce within the G10-periphery at the moment. Indeed with Chinese authorities now having suspended having suspended over 50.0% of all listed stocks from trading, is it any wonder?”
“AUD should continue to feel the brunt of that uncertainty today given its significant trade exposures.”
“Profit-taking on AUD/NZD has (finally) emerged. Winter drought in New Zealand aside, the impact of Chinese stock market deleveraging should dominate for now.”
“That dominance should translate into an AUD/NZD move towards 1.10 this week depending upon the severity of China stock pressures today.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Alternate trading themes to risk aversion are scarce within the G10-periphery at the moment. Indeed with Chinese authorities now having suspended having suspended over 50.0% of all listed stocks from trading, is it any wonder?”
“AUD should continue to feel the brunt of that uncertainty today given its significant trade exposures.”
“Profit-taking on AUD/NZD has (finally) emerged. Winter drought in New Zealand aside, the impact of Chinese stock market deleveraging should dominate for now.”
“That dominance should translate into an AUD/NZD move towards 1.10 this week depending upon the severity of China stock pressures today.”
This content has been provided under specific arrangement with eFXnews.