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Credit Agricole: AUD subject to limited downside risk - eFXnews

FXStreet (Łódź) - The eFXnews team remark that Credit Agricole sees AUD remaining under pressure as unstable risk sentiment and weak demand expectations for commodities keep the currency a sell on rallies.

Key quotes

"However, from the current levels we see only limited downside risk."

"This is due to stable RBA rate expectations and as more balanced speculative positioning should limit the risk of additional position squaring."

"From a broader angle we remain of the view that the AUD should be bought on dips versus the EUR."

"Among other reasons this is due to more room of diverging RBA-ECB monetary policy expectations in the months to come."

"In terms of events the focus shifts to RBA Governor Stevens, who will speak at the Melbourne Economic Forum."

'This content has been provided under specific arrangement with eFXnews.'

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