AUD to remain broadly range bound, anchored in the mid-0.70s - TDS
|Analysts at TDS explain that their projections see AUD remaining broadly range bound, anchored in the mid-0.70s, ending the year closer to $US0.73.
Key Quotes
“Australia’s weak domestic economy, lacklustre jobs market, and consumer debt concerns are all key constraints on the potential for AUD to appreciate beyond an unexpected USD slump.”
“The AUD has spent well over a year trapped in a particularly narrow range of $US0.715-0.784. While it is risky to project periods of range compression too far into the future (particularly for the AUD) we see intermediate support around $0.7300/30. On the downside, the next level is around $US0.6896 ahead of the January 2016 lows, a level that should hold unless there is another serious risk aversion event or wholesale repricing of the global/domestic macro landscape.”
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