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Sep 11 - 11:00 AM
AUD, CAD: Tactically Bullish Versus USD, Asia EM And Safe Havens (JPY, CHF & Gold) - Citi
First appeared on eFXplus on Sep 11 - 09:15 AM

Citi discusses AUD and CAD outlook and maintains a tactical bullish bias against the USD, Asia EM, and safe havens (JPY, CHF & Gold).

"AUD: NAB Business Confidence comes in slightly weaker but there is little reaction from AUD as the risk -on mood dominates with real money accounts seen buying AUD amid the broadly positive market sentiment for risk. This also suggests a degree of tactical outperformance against its peer NZD, Asia EM FX (CNH, SGD etc) and safe havens (JPY, CHF, Gold)," Citi notes. 

"CAD: Canadian housing starts for August beat expectations at 226.6k vs consensus for 212.5k and prior 222.5k. Canadian building permits data for July also posts a strong beat at 3%MoM vs 2% expected with the prior print also revised higher. As with AUD, a degree of tactical outperformance is seen vs NZD, Asia EM FX (CNH, SGD etc) and safe havens (JPY, CHF and Gold)," Citi adds. 

Source:
Citi Research/Market Commentary

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