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AUD/USD: THE RECENT JUMP COULD EXTEND INTO THE 0.6550/0.6570 AREA – ING

Alan xi
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Economists at ING analyze Aussie’s outlook ahead of the Reserve Bank of Australia’s Interest Rate Decision.

A hike by the RBA

We expect a 25 bps increase to 4.35%. For now, our view is that this will be the last hike of the cycle.

Consensus is almost fully aligned with our view for a hike, but markets are pricing in a 50% implied probability. We therefore see upside risks for AUD. 

The recent jump in AUD/USD (driven by the USD correction) could extend into the 0.6550/0.6570 area, barring a USD rebound in today’s session.

 


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