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27 Mar 2015
Mixed themes for the FX space - ANZ
FXStreet (Guatemala) - Analysts at ANZ gave a snapshot overview on themes within the FX space.
Key Quotes:
"For the EUR we focus on what has effectively become the loss of a monetary anchor, with markets discounting stronger growth data as having been driven by the weak currency."
"For the UK, the currency conclusion at present is similar, namely weakness, but the drivers are much more diverse – political uncertainty, fiscal consolidation, and the impact of a strong TWI on BoE policy."
"In the antipodes meanwhile, somewhat divergent conditions exist – the AUD is threatened by an RBA rate cut in the coming month, while NZ continues its run of relatively strong news."
"And Asia actually encapsulates most possibilities, with the CNY strengthening in the short term, but IDR and SGD weakened by domestic drivers."
Key Quotes:
"For the EUR we focus on what has effectively become the loss of a monetary anchor, with markets discounting stronger growth data as having been driven by the weak currency."
"For the UK, the currency conclusion at present is similar, namely weakness, but the drivers are much more diverse – political uncertainty, fiscal consolidation, and the impact of a strong TWI on BoE policy."
"In the antipodes meanwhile, somewhat divergent conditions exist – the AUD is threatened by an RBA rate cut in the coming month, while NZ continues its run of relatively strong news."
"And Asia actually encapsulates most possibilities, with the CNY strengthening in the short term, but IDR and SGD weakened by domestic drivers."