Explore eFXplus Derived Data That Drive Results
A Data Partner of:
May 06 - 12:55 PM

Credit Agricole: Staying Long AUD/NZD Into RBA

By eFXdata  —  May 06 - 10:45 AM


Credit Agricole advises maintaining long positions in AUD/NZD as it anticipates the cross to approach 1.12, particularly in the context of this week's RBA meeting. They highlight that RBA Governor Michele Bullock is facing a significant test of credibility given current economic indicators.

Key Points:

  • RBA's Credibility Test: With inflation above forecasts and unemployment below expectations, Governor Bullock must balance maintaining credibility with cautious policy guidance.

  • Neutral Bias Expected: Despite pressures, the RBA is likely to maintain a neutral stance on interest rates, considering softening consumption data and the upcoming impact of mortgage roll-overs at higher rates.

  • Bullish on AUD/NZD: Credit Agricole remains bullish on AUD/NZD, citing it as the preferable strategy to capitalize on a strong AUD outlook, despite aggressive market pricing of a potential RBA rate hike by September.

  • Global Economic Context: The firm’s outlook considers the robust performance of the US economy and the strength of the USD, which supports their strategy on AUD/NZD.


Credit Agricole advises staying long on AUD/NZD, anticipating that upcoming developments and economic releases will reinforce a bullish scenario for the Australian dollar, particularly in comparison to the New Zealand dollar.

Crédit Agricole Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved