FXstreet.com (Barcelona) - Choppy session for the Aussie dollar so far, ahead of today’s big event – Bernanke’s testimony – although framed within a major upside trend.
RBA tone in today’s minutes have boosted the AUD, joining yesterday’s rally on hopes of further easing by the Fed.
E.Theoret, Currency Strategist at Scotiabank, assesses “…despite the pause in easing and the shift in tone, the outlook for monetary policy remains biased toward easing as market participants expect another 100bps in cuts over the next 12 months, while Scotiabank forecasts 50bps by Q4 2012; hence our expectations of AUD strength…”.
RBA tone in today’s minutes have boosted the AUD, joining yesterday’s rally on hopes of further easing by the Fed.
E.Theoret, Currency Strategist at Scotiabank, assesses “…despite the pause in easing and the shift in tone, the outlook for monetary policy remains biased toward easing as market participants expect another 100bps in cuts over the next 12 months, while Scotiabank forecasts 50bps by Q4 2012; hence our expectations of AUD strength…”.
