Morgan Stanley targets EUR/AUD at 1.53, backs Aussie dollar carry trade - investingLive
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Morgan Stanley targets EUR/AUD at 1.53, backs Aussie dollar carry trade investingLive
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4 itemsMorgan Stanley targets EUR/AUD at 1.53, backs Aussie dollar carry trade
The desk interprets Morgan Stanley's bullish outlook on the Australian dollar against the euro as a favorable carry trade opportunity, bolstered by a notable increase in the interest rate differential favoring the Aussie. As highlighted in their recent report, the Reserve Bank of Australia's actions have significantly widened the rate gap, moving the cash rate to 4.35% following three interest rate hikes, whereas the European Central Bank only raised its deposit rate by 25 basis points to 2.25%. This substantial spread not only offers the Australian dollar the highest forward implied yields within the G10 but also signals an attractive environment for carry flows, especially given the current lull in FX volatility [source].
Morgan Stanley Pound To Australian Dollar Forecast: GBP/AUD Targeted At 1.82 - Exchange Rates UK
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