2 Jul 2015
Outlook for AUD/USD and crosses – ANZ
FXStreet (Barcelona) - FX Strategists at ANZ offer the outlook and expected ranges for AUD/USD and crosses, noting that the direction for the Aussie will primarily depend on the nonfarm payrolls and Greece saga.
Key Quotes
“AUD/USD: The AUD corrected lower against the USD as strong data drove the USD broadly higher. There is a bit more domestic data out for the AUD in the next couple of days, but the US payrolls report and the outcome of the Greek saga will be the primary determinant of the next move.
Expected range: 0.7510 – 0.7740”
“AUD/NZD: The AUD/NZD consolidated on losses, building the platform for another leg higher. Australian trade figures are expected to deliver a negative AUD message, but ANZ commodity (non-dairy) prices are the more important indicator.
Expected range: 1.1290 – 1.1420”
“AUD/EUR: PMIs in Europe held onto preliminary gains, with France’s improving activity outweighing minor declines – from strong levels – in Italy and Spain. Europe held firm against a proposal from Greece, with creditors stating that there could be no further negotiations until the referendum is complete.
Expected range: 0.6820 – 0.7020”
“AUD/JPY: This cross consolidated as global safe haven flows were partially unwound.
Expected range: 92.40 – 95.50”
“AUD/GBP: The UK manufacturing PMI weakened again following earlier indicators that warned of a slowdown. BoE Governor Carney warned that Greece threatens the UK’s financial stability, reminding markets that the GBP is vulnerable.
Expected range: 0.4830 – 0.4980”
Key Quotes
“AUD/USD: The AUD corrected lower against the USD as strong data drove the USD broadly higher. There is a bit more domestic data out for the AUD in the next couple of days, but the US payrolls report and the outcome of the Greek saga will be the primary determinant of the next move.
Expected range: 0.7510 – 0.7740”
“AUD/NZD: The AUD/NZD consolidated on losses, building the platform for another leg higher. Australian trade figures are expected to deliver a negative AUD message, but ANZ commodity (non-dairy) prices are the more important indicator.
Expected range: 1.1290 – 1.1420”
“AUD/EUR: PMIs in Europe held onto preliminary gains, with France’s improving activity outweighing minor declines – from strong levels – in Italy and Spain. Europe held firm against a proposal from Greece, with creditors stating that there could be no further negotiations until the referendum is complete.
Expected range: 0.6820 – 0.7020”
“AUD/JPY: This cross consolidated as global safe haven flows were partially unwound.
Expected range: 92.40 – 95.50”
“AUD/GBP: The UK manufacturing PMI weakened again following earlier indicators that warned of a slowdown. BoE Governor Carney warned that Greece threatens the UK’s financial stability, reminding markets that the GBP is vulnerable.
Expected range: 0.4830 – 0.4980”