Barclays trade for week ahead: Short AUD/USD

The RBA board minutes (Tuesday) are expected to be dovish, likely indicating the RBA’s discomfort with a still overvalued AUD. More broadly, we see three factors that suggest the AUD will remain under pressure: weak non-mining activity; deteriorating risk conditions; and worsening overvaluation as a result of poor trading partner growth and continued declines in commodity prices. As such, we recommended short AUDUSD spot positions last week

The post Barclays trade for week ahead: Short AUD/USD appeared first on www.forextell.com.

Leave a Reply

Your email address will not be published. Required fields are marked *