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27 Feb 2014
Flash: AUD/USD towards 0.78 - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, suggests the bearish sentiment would keep the AUD depressed.
Key Quotes
"Frankfurt was grey, London is wet, the Ukrainian crisis is making itself felt in markets but what really caught my eye this morning was a piece by my colleague Klaus Baader with the self-explanatory title of "Australia: Investment plans point to slump in 2014/15".
"In a nutshell, Q4 2013 capex was weak, and the outlook worse."
"The RBA is on permahold. Our long-term AUD/USD target remains 0.78."
Key Quotes
"Frankfurt was grey, London is wet, the Ukrainian crisis is making itself felt in markets but what really caught my eye this morning was a piece by my colleague Klaus Baader with the self-explanatory title of "Australia: Investment plans point to slump in 2014/15".
"In a nutshell, Q4 2013 capex was weak, and the outlook worse."
"The RBA is on permahold. Our long-term AUD/USD target remains 0.78."