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AUD/USD still neutral – Westpac

FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac signalled the neutral stance on the AUD/USD.

Key Quotes

“As we suggested last week, the business and consumer confidence surveys this week provided some welcome relief after the surge in July unemployment”.

“Market pricing of 50% chance of a cash rate cut seems likely to be reduced, benefiting AUD”.

“Tensions in Iraq, Ukraine etc. should maintain a background sense of unease for global equities, producing bouts of weakness on the Aussie”.

“Yet 0.9220/30 should limit losses so long as there is no major deterioration in one of the key flashpoints”.

“This leaves us neutral AUD/USD on the week but with clear risks of any range-break lying on the downside”.

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