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Forex Flash: AUD/USD should find support below 1.0300 - Westpac
According to Sean Callow, FX strategist at Westpac, "following lacklustre retail sales and jobs data plus RBA commentary, we are on alert for the RBA’s next move, with pricing for a 2.75% rate on 5 March rising to 50%."
"Westpac’s base case remains for a March easing but clearly much depends on whether the RBA believes demand needs further stimulus given what it has already delivered" Sean notes.
However, "this week’s calendar probably won’t provide much enlightenment on whether AUD deserves another round of selling, having last week traded lows since Oct" he says, adding that "AUD/USD should find support on dips below 1.0300, tending a little higher against a backdrop of still broadly positive global risk appetite."
