Free Trial

Westpac write "the Aussie found strength.....>

AUSSIE
AUSSIE: Westpac write "the Aussie found strength in early Sep from thawing
US-China trade developments, a bounce in iron ore prices and large resource
company dividend payments. But 0.6900 did not quite give way before the
resources-linked support faded. Pressure was amplified by the 12 month high in
Australia's unemployment rate, shifting market pricing towards an Oct RBA rate
cut. Delivery of this cut and a likely ongoing easing bias should keep a lid on
AUD/USD rallies multi-week. We also do not expect a major US-China trade
breakthrough in Oct. But an overhang of spec short A$ positioning and our dovish
FOMC view should limit the amount of time AUD spends under 0.6700."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.