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The Aussie dollar: Heading further into the Top End or Going Down Under?
Partly supported by decent economic data out of China suggesting a continued appetite for Australia’s commodity exports, the Aussie dollar has forged higher. But Australia’s NAB thinks that the “AUD/USD move above 2016 highs is mostly a USD thing” and that “the (real) AUD TWI is now as much as 10% overvalued.” NAB believes this[…]
Previewing This Week’s ECB Meeting
Thursday’s European Central Bank (ECB) monetary policy meeting will be the key event for the euro (EURUSD, EURGBP, EURJPY). Japan’s Nomura Bank is “not expecting the ECB to announce any major changes to its policy parameters at the next Governing Council meeting on 20 July. We are, however, expecting the easing bias on the asset[…]
Opinions Divide On Next Move For CAD’s Next Move
As France’s BNP Paribas noted on Wednesday, Fed Chief Janet Yellen’s “bi-annual testimony to the House Finance Committee… was more dovish than the mid-June FOMC press conference in emphasising slightly greater uncertainty over inflation.” That’s arguably a fair reflection of how the currency markets saw matters. But as Dutch Bank ING wrote yesterday “testimony from[…]