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Feb 25 - 02:55 PM

G10: Message From Major C-Banks Supportive Of Commodity-Related Currency Strength - MUFG

By eFXdata  —  Feb 25 - 01:30 PM

MUFG Research continues to see the current trading environment as remaining supportive for commodity-related currency strength, and recommended a long AUD/USD trade idea as its ToTW. 

"The improving global growth outlook continues to be supported by loose monetary and fiscal policies. The main message from major central bank officials this week including the Fed, BoC, BoE and RBNZ is that loose monetary is set to remain accommodative for the foreseeable future even as growth is expected to strengthen," MUFG notes. 

Support from fiscal policy particularly in the US which will have positive spill-overs for the rest of the world is also set to receive a significant boost in the month ahead when the Biden administration is expected to pass through another sizeable stimulus package of around USD1.5-1.9 trillion," MUFG adds. 

Source:
MUFG Research/Market Commentary

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