AUD: Swung By China |
§
§ Jun
employment numbers were better than expected but the labour report was
not the only driver today. The surge in Chinese equities was probably the
bigger reason for AUD demand in the session.
§ We hold the view that there are
better levels to sell the AUD given potential rebound in key commodity prices
in the near-term after a steep drop recently.
§ AUDSGD is still pressured near the
parity level. We do not rule out short squeezes in the near future but expect
this cross to remain heavy.
§
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.