By eFXdata — Feb 16 - 08:45 AM
Credit Agricole CIB Research discusses AUD outlook in light of this week's strong US data and weak Australia's releases.
"The combination of strong US CPI and retail sales data along with weak Australian labour market data is a double whammy for AUD/USD. Supporting the currency a little is a shift in investor thoughts about US and global growth," CACIB notes.
"Resilient cyclical data in the US is beginning to be thought of as a positive as it could mean no recession in the US. Good for the USD, and not terrible for the AUD against funding currencies such as the JPY and CHF," CACIB adds.
Crédit Agricole Research/Market Commentary