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10 Feb 2015
AUD/USD to remain anchored in the 0.78 handle – OCBC
FXStreet (Barcelona) - Emmanuel NG of OCBC Bank, views that AUD/USD might remain anchored in the 0.7800 handle in the short-term.
Key Quotes
“Despite some overnight recovery in commodities, the moderating NAB January business conditions index and the softer than expected China CPI/PPI numbers may keep undue AUD resilience in check.”
“As an aside, the heavy AUD-NZD may also impart additional drag on the AUD-USD.”
“AUD-USD may therefore remain anchored in the 0.7800 neighborhood in the short term with 0.7730 on the downside still visible.”
Key Quotes
“Despite some overnight recovery in commodities, the moderating NAB January business conditions index and the softer than expected China CPI/PPI numbers may keep undue AUD resilience in check.”
“As an aside, the heavy AUD-NZD may also impart additional drag on the AUD-USD.”
“AUD-USD may therefore remain anchored in the 0.7800 neighborhood in the short term with 0.7730 on the downside still visible.”