AUD/USD to continue to trade defensively in the week ahead - ANZ

Analysts at ANZ are out with their view on the AUD/USD pair for the coming week, as cited in their weekly FX Strategy report.

Key Quotes:

“The data calendar is light, but we'll keep an eye on auction clearance rates - as weakness in the housing sector is a key downside risk for the AUD 

The AUD is likely to remain caught in the cross-fire of US trade policy for now.

We could be less bearish on the outlook if there were strong domestic data to latch onto, but the data flow remains uninspiring from an RBA rate hike perspective, and risks around the housing market may also weigh.

Favorable terms-of-trade have helped so far, but this channel seems to be steadying. 

We expect the AUD to continue to trade defensively.”