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- AUD: Scope for outperformance against Dollar bloc peers – TDS
AUD: Scope for outperformance against Dollar bloc peers – TDS
Economists at TD Securities believe that the Australian Dollar has already priced bad news and expect Aussie to gain ground against Dollar bloc peers next year.
Re-emergence to value next year is supportive for AUD
“Slowing global growth weighed down by reduced commodity demand leaves AUD still in a slog. But, we think bad news is almost fully in the price, especially as Australia holds a relatively favourable trade balance position that may become important as commodity supply chains shift.”
While China re-opening is not our base case, AUD would be the foremost beneficiary given macro and equity linkages.”
“A re-emergence to value next year is also supportive for AUD. We see scope for outperformance against Dollar bloc peers, especially vs. CAD.”
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