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Apr 28 - 06:55 PM

AUD: Remains Biased To Add AUD Longs On Dips; 3 Reasons - Citi

By eFXdata  —  Apr 28 - 04:30 PM

Citi discusses AUD outlook and adopts a buy-on-dips bias in the near-term.

"AUD is likely to remain supported by: 1– Localized reflation illustrated by strong retail sales/consumer confidence/business confidence data recently; 2– Commodity tailwinds as outlined by our commodity strategists; 3– Broader USD weakness, which should also catalyse this view," Citi notes.

"CitiFX Strategy remain biased to add AUD longs on dips," Citi adds.

Source:
Citi Research/Market Commentary

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