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23 Apr 2015
AUD/USD near-term constructive, NZD/USD tumbles – OCBC
FXStreet (Barcelona) - Emmanuel Ng of OCBC Bank, views that AUD/USD might benefit from improving risk appetite, while NZD/USD tumbles after RBNZ’s McDermott commented on the unwelcome rise in the pair.
Key Quotes
“As noted yesterday, the warmer than expected 1Q CPI numbers lifted the AUD-USD in Asia with the pair subsequently breaching 0.7800 briefly before retracing into late NY to still end firmer on the day.”
“This morning, the flash HSBC China PMI came in at a softer than expected 49.2 (prev: 49.6) and this may cast a pall over the AUD intra-day.”
“As noted yesterday, we remain mildly constructive on the pair in the near term, especially with global risk appetite levels entrenched (and improving) in Risk-Neutral territory.”
“Elsewhere, NZD-USD took a tumble after the RBNZ’s McDermott stated that “At present, the Bank is not considering any increase in interest rates”, adding that monetary policy would remain stimulatory and that the rise in the exchange rate is unwelcome.”
Key Quotes
“As noted yesterday, the warmer than expected 1Q CPI numbers lifted the AUD-USD in Asia with the pair subsequently breaching 0.7800 briefly before retracing into late NY to still end firmer on the day.”
“This morning, the flash HSBC China PMI came in at a softer than expected 49.2 (prev: 49.6) and this may cast a pall over the AUD intra-day.”
“As noted yesterday, we remain mildly constructive on the pair in the near term, especially with global risk appetite levels entrenched (and improving) in Risk-Neutral territory.”
“Elsewhere, NZD-USD took a tumble after the RBNZ’s McDermott stated that “At present, the Bank is not considering any increase in interest rates”, adding that monetary policy would remain stimulatory and that the rise in the exchange rate is unwelcome.”