AUD: Hovering Around 0.80 Level; What’s The Trade? – Nomura

Nomura FX Strategy Research notes that AUD/USD is hovering near the 0.80 level, and promotes taking a neutral view around this level.

"The pick-up in domestic GDP growth, rally in base metal prices, Australia’s structurally improved basic balance position, and shift up in market expectations for the RBA have overridden the intermittent gyrations in asset markets generated by geopolitical concerns. The market’s sanguine attitude has caught us slightly by surprise," Nomura adds.

Against this backdrop, Nomura is flat on AUD/UD around current levels.

Source: Nomura Securities ResearchOriginal Article