Forex Flash: AUD/USD to stay above parity for the remainder of 2013 – NAB

FXstreet.com (Barcelona) - As Ray Attrill notes, Global Co-Head of FX Strategy at the NAB: “Two weeks ago we revised up our forecast for the pair to show it holding above parity for the remainder of 2013, amid reduced confidence that a (modestly) stronger USD over the balance of the year is capable of taking more than a small bite out of the AUD,” Ray says, adding: “and recognition that even if the RBA were to deliver another 50bp of rate cuts in this cycle as NAB currently forecasts, this is unlikely in itself to take much more than a cent off the currency (certainly this is all that the interest rate term in our fair-value AUD model suggests is justified),” the analyst concludes.

Apr 8, 2013

Forex: USD/JPY stalls below almost 4-year highs 98.85

USD/JPY is currently correcting to 98.38 last from fresh session and almost 4-year highs at 98.85. The pair opened the week in Asia-Pacific with a gap higher from previous weekly close Friday around 97.54, few pips off previous multi-month highs, on the back of “reports that BOJ to start accelerating bond purchases,” said IFRMarkets, what caused “triggering stops.”

Forex Flash: Tomorrow's NZIER Business Confidence in NZ to signal solid growth - BNZ

Tomorrow will come a key risk event for the Kiwi, and “we expect tomorrow’s NZIER Quarterly Survey of Business Opinion to signal solid growth in the bulk of the economy,” says Craig Ebert, Senior Economist at BNZ, adding: “Admittedly, the QSBO doesn’t survey farmers directly, so will miss much of the drought impact, or the canvas the public sector, so will overlook the fiscal consolidation at play.”