Sean Callow, Research Analyst at Westpac, suggests that they are sticking with the their bullish view on the AUD/USD pair for the week ahead, even though commodities have eased back a little.
Key Quotes
“Broad USD sentiment has faltered, DXY failing again at 97. The medium and long term dollar outlook remains robust however.”
“With USD on the back foot, risk appetite firming and specs still short AUD, we look for a run towards 0.7350 near term, perhaps a little higher. Local data should back this move and if wages surprise to the upside, AUD/USD could approach 0.7400.”
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