I had the original info posted on Friday, but there is some updated info available now:

They say:

  • A much lower AUD should be considered a “base case”, not a “tail risk” event
  • They say the forecast is dependent on the path of the RBA and the Federal Reserve
  • Their view is the RBA is on hold up to 1H of 2016
  • And that the Fed. will start increasing the Fed funds rate around mid-2015
  • Current end-2015 forecast for AUD/USD remains at 0.75
  • But risks are skewed on the downside
  • For the the near-term, however, they see upside risk, saying the labor market is likely to strengthen