FXStreet (Guatemala) – Analysts at ANZ explained a number of market themes in the euro and antipodeans.
Key Quotes:
“The EUR is consolidating under the competing influence of risk aversion and weaker oil prices.
“Ultimately, however, we favour a lower EUR before the currency can base and respond to the improved growth dynamics domestically. Sterling’s politics-induced depreciation will ultimately present a buying opportunity, but patience is in order.”
“The AUD’s depreciation has merely kept pace with global beta, suggesting that further valuation adjustment is still required. The NZD has had some solid domestic support, but that also leaves the currency vulnerable if domestic vulnerabilities surface. And in Asia the RMB has led regional currencies weaker. Short-term stability is likely to give way to further depreciation.”
(Market News Provided by FXstreet)