AUD/USD continues to perform poorly – Westpac

Analysts at Westpac offered a brief outlook for the NZD/USD pair, which struggled to capitalize on its early uptick further beyond the 0.6800 round-figure mark.

Key Quotes:

“AUD/USD continues to perform poorly, reflecting the lack of breakthrough in US-China trade talks and regional investor jitters, especially around Hong Kong. This doesn’t seem likely to change in the week ahead and Governor Lowe won’t want to encourage A$ to rally as he discusses options such as QE. Trade headlines could yet surprise, so while we retain a downward bias on the week, there could be bouts of optimism. Commodity prices also argue against substantial AUD decline. But our overall bias is for AUD/USD to grind towards the 0.6750 area.”