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NZD/AUD above 0.9100 should continue to attract sellers - Westpac

FXStreet (Bali) - NZD/AUD above 0.9100 should continue to attract sellers, notes Imre Speizer, FX Strategist at Westpac, who looks for a push to 0.88 during Q4.

Key Quotes

"After responding to the sharp fall in dairy prices as well as the expectation the RBNZ would be on hold for some time, NZD/AUD rebounded off 0.8853 on 5 September."

"Markets recently turned their attentions to the iron ore slide and China’s prolonged economic soft patch, taking the cross up to 0.9090."

"However, the RBA’s very clear signal of a steady hand into 2015 contrasts with the RBNZ’s dovish shift in its Sep MPS, and that should weigh on NZD/AUD in Q4."

"Moreover, we continue to look for a recovery in iron ore prices in coming months, such that NZD/AUD above 0.9100 should continue to attract sellers looking for a push to 0.88 during Q4."

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