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20 Sep 2013
Flash: AUD, NZD, CAD forecast changes - UBS
FXstreet.com (Córdoba) - The UBS analyst team changed commodity currencies forecasts given the Fed’s decision not to taper its bond buying program last Wednesday.
Key Quotes
“Given Bernanke's dovish stance at the September FOMC meeting, we believe there is short term upside for the so called commodity currencies”.
“The CAD should profit and we expect USDCAD around parity over the coming six months”.
“The message of ‘QE for longer’ from the Fed does not change our long term bearish stance on the AUD, but limits AUDUSD downside in the short term. “We move the three month forecast from 0.85 to 0.90”.
“We change NZDUSD forecasts to 0.80 (previous 0.75) over the whole horizon”.
Key Quotes
“Given Bernanke's dovish stance at the September FOMC meeting, we believe there is short term upside for the so called commodity currencies”.
“The CAD should profit and we expect USDCAD around parity over the coming six months”.
“The message of ‘QE for longer’ from the Fed does not change our long term bearish stance on the AUD, but limits AUDUSD downside in the short term. “We move the three month forecast from 0.85 to 0.90”.
“We change NZDUSD forecasts to 0.80 (previous 0.75) over the whole horizon”.