16 Feb 2015
NZD/USD: To benefit from commodity prices late 2015 - Westpac
FXStreet (Guatemala) - Imre Speizer, analyst at Westpac International Banking Corporation explained that speculators are currently very short the NZD.
Key Quotes:
"But there has been little for NZD bears to latch onto. The RBNZ Governor recently cold water on the idea of OCR cuts."
"NZ economic data has been supportive, and dairy prices have bounced. As for the US dollar, it has taken a breath after a heady rally during the past year."
"By late 2015, the exchange rate should stage a rebound towards the high 0.70’s if NZ’s commodity prices rise as we expect."
"This, plus the risk-seeking atmosphere resulting from more of the global economy participating in recovery, should offset the interest rate disadvantage resulting from Fed tightening."
Key Quotes:
"But there has been little for NZD bears to latch onto. The RBNZ Governor recently cold water on the idea of OCR cuts."
"NZ economic data has been supportive, and dairy prices have bounced. As for the US dollar, it has taken a breath after a heady rally during the past year."
"By late 2015, the exchange rate should stage a rebound towards the high 0.70’s if NZ’s commodity prices rise as we expect."
"This, plus the risk-seeking atmosphere resulting from more of the global economy participating in recovery, should offset the interest rate disadvantage resulting from Fed tightening."