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- AUD/USD to advance nicely towards 0.7550 – Credit Suisse
AUD/USD to advance nicely towards 0.7550 – Credit Suisse
Strategists at Credit Suisse revise their bullish AUD/USD target from 0.7350 to 0.7550, as rising inflationary pressures point to risks of an earlier-than-expected hawkish turn in Reserve Bank of Australia (RBA) policy.
More upside down under
“We revise our bullish AUD/USD target from 0.7350 to 0.7550, we would look to buy dips below 0.73 and see the pair in a range between 0.72 and 0.76.”
“Second-tier data indicators show rising inflationary pressures, pointing to further risks of an earlier-than-expected hawkish turn in RBA policy rhetoric.”
“Markets will likely continue to view AUD as a clean expression of commodity price strength.”
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