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Thomson Reuters
May 10 - 05:00 PM
AUD: Mildly Bearish On Asymmetric Risk; NZD: Tactically Neutral - ANZ
First appeared on eFXplus on May 10 - 01:40 PM

ANZ Research discusses AUD and NZD tactical outlook. ANZ is mildly bearish on AUD and neutral on NZD in the near-term.

"AUD: The RBA left rates on hold, but highlighted the need for further acceleration in the labour market before inflation sustainably rises towards target. As such, the wage price index and the unemployment rate will be critical in determining the timing of any policy easing. Risks to the AUD remain asymmetric with greater risk to the downside on poor data. Elsewhere, Business conditions and consumer confidence are expected to remain soft," ANZ notes. 

"NZ: The RBNZ easing cycle has begun, but the NZD has remained relatively resilient as the Bank showed no urgency to follow up with another cut anytime soon. With the bank also having revised its growth forecasts down, data will need to deteriorate further for the NZD fall. In this light the PMI’s will give some clues about the economies momentum," ANZ adds. 

Source:
ANZ Research/Market Commentary

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