AUD/USD: Unlikely to extend its rise unless the RBA springs a surprise – SocGen

Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes AUD ahead of Tuesday’s RBA Interest Rate Decision.

Little expectation of a move

Forecasters are evenly split, but market pricing indicates little expectation of a move by the Reserve Bank of Australia (RBA). 

Maybe short-covering (as well as the positive risk backdrop) is enough to help Australian Dollar today, but I can’t see much follow-through at all on Tuesday unless the RBA springs a surprise.

See – AUD/USD: Aussie has very limited upside – SocGen