The RBA holds a policy meeting later this week. What is the forecast for AUD/USD?
Here is their view, courtesy of eFXdata:
Credit Suisse discusses its expectations for [this]week’s RBA’s policy meeting.
“Ahead of the 4 May decision, markets expect the bank to leave its cash rate and 3-year target at 0.10%. In its February meeting, the RBA introduced forward guidance indicating that the cash rate would remain unchanged until inflation is sustainably within the 2% to 3% target range, criteria which they do not expect to meet until “at least 2024″. Markets largely do not anticipate a change in language on this front,” CS notes.
“We see these monetary policy risks as reinforcing our expectation for AUDUSD to trade in a 0.7415- 0.7800 range for the time being,” CS adds.
For lots more FX trades from major banks, sign up to eFXplus
By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.
