24 Jun 2014
Hawkish RBNZ to keep bullish tone in NZD - Westpac
FXStreet (Bali) - A hawkish RBNZ should keep the bullish tone towards the NZD, according to Westpac FX Strategists.
Key Quotes
"The recent hawkish surprise from the RBNZ should keep the market in a bullish mood towards the NZD, despite last week’s modest downside surprise from the Q1 GDP report (although net of revisions it matched consensus). The RBNZ is expected to hike again in July."
"Further, last week’s FOMC-induced decline in US interest rates underscores the attractiveness of the NZD from a global carry perspective. The next target above is 0.8780, and beyond that, 0.8840 - the record high."
Key Quotes
"The recent hawkish surprise from the RBNZ should keep the market in a bullish mood towards the NZD, despite last week’s modest downside surprise from the Q1 GDP report (although net of revisions it matched consensus). The RBNZ is expected to hike again in July."
"Further, last week’s FOMC-induced decline in US interest rates underscores the attractiveness of the NZD from a global carry perspective. The next target above is 0.8780, and beyond that, 0.8840 - the record high."