Forex News AUD/USD likely to continue tracking EUR near term, returning to 0.9800 territory, but weakening economy means pair will slip back to 0.9500 in 3Q, meaning parity is off the cards, says Barclays Capital strategist David Forrester. "We think the domestic data in Australia will start to point to a rate cut early next year, that's when the Aussie will start to come under a bit more pressure." Notes lower oil prices, hawkish Fed, weaker commodities weakening AUD, but strength behind USD also more fundamental given GSE legislation passed, also possible laws on oil speculation. "We continue not to be in the parity camp." AUD/USD now 0.9590.
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