AUD: Rate-cut sheep are lining up again
After recent Chinese data and today’s CPI numbers, virtually all of the major bank analysts are lined up one after another calling a rate cut in either June or July. Wish one of them had something original or even risky to say occasionally. Probably asking for a bit much.
As you know I’m overall bearish on the AUD but if USD/JPY breaks above 100.00 then AUD/USD will be driven higher by AUD/JPY buying. Sovereign names have also been reportedly buying alongside the corporate interest around 1.0225 so a quick long trade for a test of 1.0360 might be worth considering? Just a thought.