7 May 2015
NZD/USD might see sub-0.7200 levels by mid-year – Westpac
FXStreet (Barcelona) - Imre Speizer of Westpac, maintains a multi-month negative bias on NZD/USD, expecting the pair to see below 0.72 levels by mid-2015.
Key Quotes
“The multi-month NZD/USD rally started reversing last week and we now hold a negative near term bias, while retaining our multi-month negative biases.”
“The fresh catalysts for NZD selling have been the RBNZ’s dovish shift to a conditional easing bias, and the disappointingly weak wage inflation report (one of the three conditions for an OCR cut). In addition, dairy prices keep falling.”
“We target 0.7420 during the week ahead, and sub-0.7200 by mid-year.”
Key Quotes
“The multi-month NZD/USD rally started reversing last week and we now hold a negative near term bias, while retaining our multi-month negative biases.”
“The fresh catalysts for NZD selling have been the RBNZ’s dovish shift to a conditional easing bias, and the disappointingly weak wage inflation report (one of the three conditions for an OCR cut). In addition, dairy prices keep falling.”
“We target 0.7420 during the week ahead, and sub-0.7200 by mid-year.”