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On Monday Rabobank noted that "the recent....>

AUSSIE
AUSSIE: On Monday Rabobank noted that "the recent gains in the AUD appear to
reflect some optimism that the net offering from this week's Australian retail
sales and Q1 GDP data in addition to the RBA policy meeting could be leave a
more positive outlook in the market. That said, we are sceptical as to the
durability of the better tone and continue to expect AUD/USD to trend lower
medium-term."
- They cite "little change in the fact that Australian consumers remain
pressured by high debt levels, weak wage inflation & falling house prices."
- As a result they maintain their 6-Month AUDUSD forecast of 0.7400.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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