21 May 2015
NZD/USD targets 0.7100 medium term – Westpac
FXStreet (Edinburgh) - Imre Speizer, Strategist at Westpac, noted the pair could be headed towards the 0.7100 region in the months to come.
Key Quotes
“The NZD/USD downtrend since the beginning of May remains intact and we target a break below 0.7300 during the week ahead, with a run to 0.7100 during the next few months”.
“Watch out, though, for the RBNZ MPS on 11 June, which is unlikely to result in an OCR cut and should disappoint the market”.
“We would view the ensuing bounce as one to sell into”.
“In July we will get the next reading on CPI inflation which we forecast to be 0.3% yoy, encouraging market doves”.
Key Quotes
“The NZD/USD downtrend since the beginning of May remains intact and we target a break below 0.7300 during the week ahead, with a run to 0.7100 during the next few months”.
“Watch out, though, for the RBNZ MPS on 11 June, which is unlikely to result in an OCR cut and should disappoint the market”.
“We would view the ensuing bounce as one to sell into”.
“In July we will get the next reading on CPI inflation which we forecast to be 0.3% yoy, encouraging market doves”.