National Australia Bank expects the Reserve Bank of Australia to begin easing by
Q2 2027, amounting to 75bps. NAB now forecasts AUD/USD at 0.6700 by end-2027
(previously 0.7000) and sees the pair probing at least 0.6500 at some point. NAB
adds that if the RBA cuts next year while the Federal Reserve remains on hold,
AUD downside would deepen.