A Goldman Sachs client note from yesterday:

  • Says that commodity currencies, including the AUD, will continue to face depreciation pressures
  • Cite recent commodity price falls as coninuing to impact on a decline in the terms of trade
  • Says the RBA is likely to lag the Fed in eventual tightening

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On that last point – this is what the RBA is (and has been for a while) waiting for.

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Coming up today: