0446 GMT - Economic data calendars are light this week but there's consequential event risk around Trump's inauguration and potential for a barrage of first-day executive orders, says Richard Franulovich, head of FX Strategy at Westpac. Franulovich has allowed for a very wide potential AUD/USD range this week. The pair, trading at 0.6214, could move between 0.6050 to 0.6300. AUD's deep liquidity and high exposure to China make it an attractive proxy for CNH at times like this, Franulovich says. Still, the inauguration speech is not really the forum for talking about tariffs and Trump probably won't even explicitly broach them, the same as his 2017 inauguration speech, he adds. This isn't the occasion for the kind of policy detail FX markets are seeking, Franulovich adds. (james.glynn@wsj.com ; @JamesGlynnWSJ)
(END) Dow Jones Newswires
January 19, 2025 23:46 ET (04:46 GMT)
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