Credit Agricole CIB FX Strategy Research discusses AUD outlook, noticing the currency was the biggest mover and declined on the back of disappointing inflation data.
Despite today’s inflation data, we continue to think the RBA is closer to raising rates than the RBNZ, especially with the RBNZ’s inflation-targeting mandate to be loosened in the coming month(s) as the new government revises the RBNZ Act and the government likely appoints a dovish RBNZ Governor to interpret this new mandate. We remain long AUD/NZD* targeting 1.15," CACIB argues.
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