23 Jul 2013
Flash: NZD/USD maintains positive bias this week – Westpac
FXstreet.com (New York) - Global FX Strategist Sean Callow at Westpac speculates the outlook of the NZD and looks at rates in New Zealand.
Key quotes
“We retain our positive bias for the NZD/USD for another week but remain negative one month out and beyond. Further out, we expect to see it in the low 0.70’s by year end.”
Moreover, “This two-week old downward correction is expected to persist this week. NZ 2yr swaps could slip to 3.10%, while the 5yr could reach 3.65%, the 10yr 4.25%. Beyond this brief correction, though, we expect higher interest rates over the next year and beyond.”
Key quotes
“We retain our positive bias for the NZD/USD for another week but remain negative one month out and beyond. Further out, we expect to see it in the low 0.70’s by year end.”
Moreover, “This two-week old downward correction is expected to persist this week. NZ 2yr swaps could slip to 3.10%, while the 5yr could reach 3.65%, the 10yr 4.25%. Beyond this brief correction, though, we expect higher interest rates over the next year and beyond.”