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September 2015

AUDUSD remains under pressure...

Published: Tuesday 01 September 2015

Despite the RBA leaving interest rates unchanged overnight, the AUD/USD remains under pressure today although the RBA is refraining from talking down their currency. Canadian GDP figures were in line with expectations but it doesn’t seem to have provided much of a case of the Bank of Canada to change interest rate expectations. We should see the BoC taking a “wait and see” approach and keeping a close eye on the Fed, this would be regardless of the economy entering a technical recession. China’s central bank is still under pressure to stimulate economic momentum with an increased possibility of more interest rate cuts and probably further CHY devaluation. This week should see a lot of a volatility surround the ECB meeting and rate decision on Thursday and US nonfarm payrolls on Friday.