AUD: Don't buy at current levels (Credit Agricole bank)

"Australians investments declined further during the second quarter. However, forecasts for investment have been revised upward.

From this point of view, the downside risk for the AUD was limited. But looking ahead, caution remains important. Expectations of rising key rates by the Fed are still relatively well anchored and instability of risk sentiment should continue to let the AUD remain vulnerable to the downside, especially against the USD," says the Credit Agricole bank.