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5 Aug 2013
Flash: AUD/USD bearishness prevailing theme heading into RBA – TD Securities
FXstreet.com (New York) - The TD Securities Team analyzes the short-term outlook of the AUD/USD with respect to upcoming premia and the RBA meeting this week.
Key quotes
“Investors remained particularly bearish on the on the AUD, and an extension of the net short position – to another record – bucked the trend among the rest of the major currencies.”
“The focus on the likely rate cut at next week’s RBA meeting saw net short contracts reach 72.6k, from 64.0 in the week prior.”
Moreover, “long exposure to the USD was trimmed against all currencies except the AUD ahead of the Fed meeting, reducing the value of the implied USD long position to $23.5 bn, from $28.0 bn.”
Key quotes
“Investors remained particularly bearish on the on the AUD, and an extension of the net short position – to another record – bucked the trend among the rest of the major currencies.”
“The focus on the likely rate cut at next week’s RBA meeting saw net short contracts reach 72.6k, from 64.0 in the week prior.”
Moreover, “long exposure to the USD was trimmed against all currencies except the AUD ahead of the Fed meeting, reducing the value of the implied USD long position to $23.5 bn, from $28.0 bn.”