Long AUD bear market is in its final stages now - SocGen

Kit Juckes, Research Analyst at Societe Generale, notes that AUD and NZD are a bit softer today but the AUD bounced after a 100%-discounted rate cut is, at the very least, a reminder that the long AUD bear market is in its final stages now.

Key Quotes

“AUD/NZD may still have medium-term upside, but the drivers of FX weakness in the region – weaker commodities prices, terms of trade, the Chinese slowdown and monetary policy convergence, are all tired.”