Emmanuel Ng of OCBC Bank, views the near-term risks for AUD/USD towards 0.7720 levels.
Key Quotes
“With the RRR cut by PBOC granting little lasting buoyancy for the AUD-USD on Wednesday, the subsequent EUR jitters and renewed commodity softness saw the AUD-USD sinking back below 0.7800.”
“The pair may still continue to reverberate with the RBA’s latest rate cut and we believe risks are still biased towards 0.7720 in the near term.”
Key Quotes
“With the RRR cut by PBOC granting little lasting buoyancy for the AUD-USD on Wednesday, the subsequent EUR jitters and renewed commodity softness saw the AUD-USD sinking back below 0.7800.”
“The pair may still continue to reverberate with the RBA’s latest rate cut and we believe risks are still biased towards 0.7720 in the near term.”
