Australian dollar continues to remain within the range established over the past few days, the mood remains positive, and the bulls do not lose hope for a new attempt to test this year highs around $ 0.8265. Such hope is shared and currency strategists Commonwealth Bank of Australia, which does not preclude attempts at correction of AUD / USD lower, but expect that they will be limited and a significant mood change in the foreign exchange market participants are not going to happen. In the CBA believes that as economic recovery RBA will be one of the first central bank, which would tighten monetary policy that will support the growth differential rates and increase the attractiveness of investment in Australian assets. As a result, the strategists recommend that the bank attempts to reduce the use of AUD / USD below $ 0.80, AUD / EUR below E0.56 and AUD / JPY below Y73 as an opportunity to buy with the expectation of growth in the next few weeks.
Friday, July 24, 2009
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