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Outlook on NZD and AUD turning neutral - Westpac

FXStreet (Guatemala) - The Westpac Global Strategy Group at Westpac Banking Corporation ABN explained the their macro, model and technical process is neutral on AUD and NZD for the week ahead.

Key Quotes:

“A broadly stable domestic story should see AUD/USD continue to find buyers on weakness. But disappointing iron ore price action following the China rate cut and AUD's sensitivity to JPY swings suggest rallies will struggle around 0.8650/0.8700”.

NZD's prognosis had been turning less negative but with dairy prices resuming their fall and inflation expectations falling in the RBNZ's latest survey the focus should turn back to the downside, with scope for it to fall to 0.7700 during the next few days”.

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