PBoC put a Floor in AUDUSD (Monthly)
Here we are tracking a Long-term chart in AUD after some precarious price action all week with the PBoC sitting on the bid.
We are marking the lows here for a very long time, with significant positive policy shifts the downside risk has materially subsided for AUD housing markets and domestic economy and therefore has become an attractive place to park this late in the cycle.
Shorts look over-stretched and we are entering in very key value levels for the long-term. Best of luck to all those going fishing.
We are marking the lows here for a very long time, with significant positive policy shifts the downside risk has materially subsided for AUD housing markets and domestic economy and therefore has become an attractive place to park this late in the cycle.
Shorts look over-stretched and we are entering in very key value levels for the long-term. Best of luck to all those going fishing.
Comment:
An important update in yield differentials as we head into the employment report today. The 2y yield is picking up while the 10y is stabilising. All pointing to higher AUD.
Comment:
Yields picking up as expected
