AUD/USD WILL REMAIN STABLE NEAR 0.6600 DESPITE US-AUSTRALIA DATA DIVERGENCE – CIBC
Economists at CIBC Capital Markets expect the AUD/USD pair to hover around the 0.6600 level over the coming months.
The RBA will maintain a mildly hawkish tone, but less so than the RBNZ
We think that ongoing labour market tightness and its services sector means the RBA will ease after the Fed. That suggests AUD/USD will remain stable (near our Q1 forecast of 0.6600), despite US-Australia data divergence.
The RBA will maintain a mildly hawkish tone, but less so than the RBNZ. That points to AUD/NZD downside to 1.0500.
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