23 Jul 2013
Flash: AUD/NZD targets 1.13 by year end - NAB
FXstreet.com (Barcelona) - The sustained bear trend in the AUD/NZD is set to continue, notes Emma Lawson, FX Strategist at NAB, albeit at a slower pace.
Key quotes
"The NZ economy is set to outperform as it faces impetus from the Canterbury re-build, an increase in housing activity and above average business confidence. This should keep the RBNZ with a tightening bias, in clear contrast to the RBA.
"Relative commodity prices are also more favourable for the NZD than the AUD. We forecast the cross to move to 1.13 by year-end."
Key quotes
"The NZ economy is set to outperform as it faces impetus from the Canterbury re-build, an increase in housing activity and above average business confidence. This should keep the RBNZ with a tightening bias, in clear contrast to the RBA.
"Relative commodity prices are also more favourable for the NZD than the AUD. We forecast the cross to move to 1.13 by year-end."