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13 Apr 2015
RBA expected to stay on hold, long AUD/NZD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team sees a high probability that the RBA will keep rates on hold at its nearest meeting and support AUD, and further add that long AUD/NZD might be a better opportunity to trade any anticipated Aussie strength.
Key Quotes
“Friday’s data from the Commodity Futures Trading Commission showed net Aussie shorts stood at more than 40k contracts, from around 24k the week before. We should expect that the combination of Chinese data and predictions for slower growth only reinforced expectations the RBA will ease again in May.”
“In our opinion the RBA may surprise markets again and keep rates on hold at its nearest meeting – a lot depends on inflation data that will be released next week.”
“We expect Australian employment figures on Thursday to be slightly better than market consensus, which should support the AUD.”
“The AUD may be not strong enough to rise against the USD, but we are looking to get AUD/NZD long.”
“AUD/NZD: buy at 1.0135, if filled – target 1.0290, stop-loss 1.0090, risk factor **”
Key Quotes
“Friday’s data from the Commodity Futures Trading Commission showed net Aussie shorts stood at more than 40k contracts, from around 24k the week before. We should expect that the combination of Chinese data and predictions for slower growth only reinforced expectations the RBA will ease again in May.”
“In our opinion the RBA may surprise markets again and keep rates on hold at its nearest meeting – a lot depends on inflation data that will be released next week.”
“We expect Australian employment figures on Thursday to be slightly better than market consensus, which should support the AUD.”
“The AUD may be not strong enough to rise against the USD, but we are looking to get AUD/NZD long.”
“AUD/NZD: buy at 1.0135, if filled – target 1.0290, stop-loss 1.0090, risk factor **”