What is the forecast for AUD in the near-term?
Here is their view, courtesy of eFXdata:
Citi discusses AUD outlook and adopts a buy-on-dips bias in the near-term.
“AUD is likely to remain supported by: 1– Localized reflation illustrated by strong retail sales/consumer confidence/business confidence data recently; 2– Commodity tailwinds as outlined by our commodity strategists; 3– Broader USD weakness, which should also catalyse this view,” Citi notes.
“CitiFX Strategy remains biased to add AUD longs on dips,” Citi adds.
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