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Oct 29 - 12:55 AM

AUD: Risk Next Week’s RBA Meeting Will Disappoint The Hawks; Staying Short AUD/NZD - Credit Agricole

By eFXdata  —  Oct 28 - 04:30 PM

Credit Agricole CIB Research discusses AUD outlook ahead of next week's RBA policy meeting.

"We acknowledge if the RBA does not intervene in the bond market on Friday, it will be a stronger signal. In a Senate testimony, RBA Deputy Governor Guy Debelle gave little away about next week’s meeting. He said a little bit more inflation is welcome, but not a lot more and repeated that the RBA is closely watching wage growth," CACIB notes. 

"With the market having already aggressively priced in RBA rate hikes, the risk is that next week’s RBA meeting will disappoint the hawks. We remain short AUD/NZD,"CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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