2 Jul 2014
Fresh emphasis on selling NZD rallies - ANZ
FXStreet (Bali) - Sam Tuck, FX Strategist at ANZ Research, favours selling NZD/USD rallies due to continued dairy price declines.
Key Quotes
"We increase emphasis on our NZD/USD sell on rallies view, due to continued dairy price declines."
"NZD looks particularly vulnerable against GBP, as the BoE transitions to join the RBNZ in reducing monetary stimulus."
"Dairy prices continue to fall, price action is a worry, and we see downside risks to the Fonterra 2014-15 milk price forecast."
"We note a material tightening of financial conditions in New Zealand of late."
Key Quotes
"We increase emphasis on our NZD/USD sell on rallies view, due to continued dairy price declines."
"NZD looks particularly vulnerable against GBP, as the BoE transitions to join the RBNZ in reducing monetary stimulus."
"Dairy prices continue to fall, price action is a worry, and we see downside risks to the Fonterra 2014-15 milk price forecast."
"We note a material tightening of financial conditions in New Zealand of late."