Forex News AUD beginning to see clouds on horizon, as softer commodity prices and traders moving to price in RBA rate cuts likely to cap any gains in medium term, says ICAP economist Matthew Johnson. Notes AUD/USD has bounced in early Asia from low of 0.9680 in New York trading, but "the big risk is that the fall in commodity prices, and the fact that rate cuts are now priced in, will weigh on the AUD across the medium term." AUD/USD now 0.9732. Says trade prices data due 0130 GMT won't move the market, though adds, "If pressed, I'd punt on higher import costs weighing on rates."
0 comments:
Post a Comment