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Sep 08 - 10:55 AM

AUD: Little Upside Potential N-Term - Danske

By eFXdata  —  Sep 08 - 09:30 AM

Danske Research discusses AUD outlook in the near-term.

"The Reserve Bank of Australia decided to stick to its tapering plan of reducing the purchase pace from AUD5bn/week to 4bn/week despite the worsening Covid-situation. Initial AUD strength faded through the day, as the QE program was also extended at least until February," Danske notes. 

"RBA also stuck with its dovish long-term view of no rate hikes until 2024, and we continue to see little upside potential for AUD from possible further hawkishness, as market continues to aggressively price in the first hike by early 2023," Danske adds. 

Source:
Danske Research/Market Commentary

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