Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 12 - 12:55 AM

AUD, CAD: A More Cautious Outlook N-Term - MUFG

By eFXdata  —  May 11 - 04:30 PM

MUFG Research adopts a more cautious bias on commodity currencies in the near-term.

"Our commodity analyst maintains a broad-based bullish for outlook for commodity prices. However, we could be at a tipping point where a further move higher in prices could now be viewed as less supportive for commodity-related currencies in so far as they serve to reinforce fears over a sharper slowdown in global growth ahead," MUFG notes. 

"In these circumstances, we are adopting a more cautious outlook for commodity related currencies in the near-term. USD/CAD breaking above 1.3000 and AUD/USD below 0.7000 have provided further bearish technical signals for commodity currency performance," MUFG adds. 

Source:
MUFG Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!