UBS projects a resilient Australian dollar in 2024, domestic reasons and the RBA

Posted : 3 months ago

UBS is bullish on the Australian dollar in 2024, citing " compelling domestic reasons for AUD resilience":long AUD remains somewhat of a value propositioncommodity prices have been resilient despite a still uninspiring China backdropOn the RBA:"We think that additional tightening is very unlikely at this stage""Tone of Governor Bullock's press conference was somewhat hawkish, which should be seen as AUD-supportive in the context of the RBA needing to reaffirm some of its inflation-fighting credentials"UBS expect the first RBA cut in August 2024, but says the risk is for later ... see 25bp cuts per quarter to follow This article was written by Eamonn Sheridan at www.forexlive.com.