29 Jan 2014
Flash: AUD structurally bearish - ANZ
FXstreet.com (Barcelona) - Irene Cheung, FX Strategist, Asia at ANZ remains structurally bearish AUD.
Key Quotes
"While we remain structurally bearish the AUD, in the near-term a modest squeeze is in prospect."
"Short positioning in the AUD is at recent extremes despite an improved trend in the data. The upcoming RBA meeting will force this divergence to the fore."
"Broader structural trends do not suggest that this counter-rally can persist as it did in 2013."
Key Quotes
"While we remain structurally bearish the AUD, in the near-term a modest squeeze is in prospect."
"Short positioning in the AUD is at recent extremes despite an improved trend in the data. The upcoming RBA meeting will force this divergence to the fore."
"Broader structural trends do not suggest that this counter-rally can persist as it did in 2013."