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Jun 16 - 12:55 PM

AUD: Beware Of Violent Price Action In AUD; A Buy-On-Dips N-Term - Credit Agricole

By eFXdata  —  Jun 16 - 10:45 AM

Credit Agricole CIB Research discusses AUD outlook into today's FOMC meeting and RBA's Lowe speech. 

"It will be important twenty-four hours for the AUD with the FOMC meeting, RBA Governor Philip Lowe speaking and the Australian labour market data and we caution investors that there could be some violent price action in the AUD. We continue to think the currency remains a buy on dips," CACIB notes. 

"Our US economist does not expect the FOMC to retreat from its temporary-spike-in-inflation mantra, which would be good news for the risk and rate-sensitive AUD. But it would take only two members of the FOMC to shift in order to bring forward for the median expected date for the start to the Fed’s rate hikes from 2024 to 2023,which could weigh on the AUD," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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