Via a National Australia Bank note, on the Australian dollar (in brief):
- next 2-3% move will be driven by which side of the 0.6370-0.6570 range breaks first ... likely to determine whether we next head up to the 0.67 area or down to near 0.62
(ps. NAB's end of June forecast is 0.62)
More:
- most remarkable feature … has been how closely intraday movements have tracked the gyrations in the S&P 500, confirming the current dominance of swings in risk sentiment, at least as reflected in US equities
- risk sentiment … is currently in the driving seat
- US-China trade is back on the radar as a potential AUD-negative risk factor
NAB's short term fair value for AUD:
