Commonwealth Bank of Australia research note says the Australian dollar may end the week a lot lower .... below 0.7600 ...
Senior currency strategist Elias Haddad cites:
- Australian bond yields could edge lower on the twin effects of Australian capex and Fed Chair Yellen's testimony this week
- Expects Yellen (she speaks on both 24 and 25 February this week) will repeat the recent resolve of the FOMC to lift rates midyear, ... which is ahead of market pricing
- Says 4Q mining capex (capex data is due on February 26, local time) is likely to fall more than expected
- Remaining LNG projects will be completed in 2015-16, making it harder for Australia to transition to growth led by non-mining business
I'll have a preview of the capex data as we get closer to Thursday
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Not a lot going on in the AUD the last few hours:
