Back
10 Sep 2013
Flash: Risk Appetite is clearly visible overnight - Rabobank
FXstreet.com (Athens)- Jane Foley, Senior Currency Strategist of Rabobank, notes that while the downward revision of expectations regarding Fed tapering next week is supportive of risk appetite, this morning the better tone in markets has been encouraged further by news that a US military strike on Syria may be less likely.
Key Quotes
“The NOK, AUD and NZD are all performing well. The AUD has taking its lead from the better Chinese data and the NOK on the back of the general election result which should usher in more fiscal spending which could be met with tighter monetary conditions.”
“In view of the build up of short AUD positions, we see risk of a move to AUD/USD 0.93 in the coming weeks. In the current environment we would also be buyers of AUD/JPY on dips.”
“Although there is uncertainty as to how far the new Norwegian government coalition will push for spending increases and tax reductions, in the current environment the NOK should remain well positioned vs. both the USD and the JPY. Technical resistance lies in the NOK/JPY17.05 area.”
Key Quotes
“The NOK, AUD and NZD are all performing well. The AUD has taking its lead from the better Chinese data and the NOK on the back of the general election result which should usher in more fiscal spending which could be met with tighter monetary conditions.”
“In view of the build up of short AUD positions, we see risk of a move to AUD/USD 0.93 in the coming weeks. In the current environment we would also be buyers of AUD/JPY on dips.”
“Although there is uncertainty as to how far the new Norwegian government coalition will push for spending increases and tax reductions, in the current environment the NOK should remain well positioned vs. both the USD and the JPY. Technical resistance lies in the NOK/JPY17.05 area.”