Twitter is a popular medium for many in financial markets, allowing a user to tailor who and what they follow in order to help remove the news from the noise.
As such, for time-poor individuals, it can be a more than useful tool.
Picking up on Twitter’s strengths, the National Australia Bank’s FX strategy team has created what it calls its “FX views in a tweet”, providing a short view — 140 characters or less in length — on where it expects major currency pairs to head both in the short and longer-term.
Here’s its latest update.
In the ultra near-term, the NAB says that a rate hike from the Fed on March 15 “is baked in the cake” given Friday’s strong US non-farm payrolls report for February.
Given that outcome is now fully priced in, the bank says that US yields need to break into higher ground for the US dollar to rise appreciably in the next three months.
“This is not assured, especially if the Fed’s forecasts are unchanged this week,” it says.