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Market Analytics
Westpac: market’s risk sentiment improved
Friday, January 27, 2012 - 09:45
Analysts at Westpac Institutional Bank claim that as the Federal Reserve announced that it plans to keep interest rates at the record low minimum until the end of 2014, one may trade on the risk-on sentiment.
In addition, the bank expects the ECB to cut rates at the beginning of February and then conduct 3-year liquidity option later that month. This would also contribute to the market’s risk appetite.
Moreover, Westpac says that there is potential for more quantitative easing in the UK where GDP contracted in the fourth quarter more than expected.
The specialists advise investors to focus on the commodity currencies. In particular, the bank recommends selling British pound versus New Zealand’s dollar in the 1.9200 area, looking forward to the pair’s decline to 1.8700 and stopping at 1.9400.
