OctaFX | OctaFX Forex Broker
Open trading account

Credit Agricole sees upside correction risk for AUD - eFXnews

FXStreet (Łódź) - The eFXnews team remark that Credit Agricole recommend refraining from selling the AUD at current levels, as they see further upside correction risk.

Key quotes

"Stable RBA monetary policy expectations should leave the AUD driven by external factors such as global risk sentiment and Fed monetary policy expectations."

"This is especially true as the central bank appears to be somewhat less cautious when it comes to the currency’s high valuation. Although the central bank still regards the AUD as being high by historical standards it refrained from calling it overvalued according to most fundamental estimates."

"Looking ahead, we anticipated further upside correction risk. First of all we see scope of Fed speakers sounding more cautious this week."

"This is mainly due to a high USD’s dampening impact on inflation expectations, which have been falling during the past few weeks. Accordingly we advise against selling AUD/USD around the current levels."

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

USD/CAD can't hold above 1.1200... for now

The USD/CAD's overnight rally from 1.1150 jumped above the 1.1200 level to reach fresh intra-day highs around 1.1210 where the pair found selling interest that sent it back below 1.1200.
Read more Next
Start livechat