Analysts at Australia and New Zealand Banking Group (ANZ) offer their view on the Australian dollar heading into the RBA monetary policy decision.
Key Quotes:
“AUD lacks a catalyst for a sustained move higher.
Domestic data flow is uninspiring from an RBA rate hike perspective, even more so after the disappointing Q2 CPI.
The global environment will continue to dominate moves.
With a number of positive events, like China’s stimulus, failing to boost the AUD materially, the environment is increasingly challenging. Domestic policy developments are also weighing on the Aussie.
The fair value for the currency seen at 0.7 against the USD.”
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