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Forex Flash: NZD/USD expected at 0.87 by year end - NAB

NAB strategists remain constructive on the Kiwi over the medium-term although seems to be favoring the downside in the short term, saying "we find the downside a little more compelling in the near-term."

NAB expands: "Near-term, strong support will likely be found on any pullback into the 0.8250-0.8300 window." The bank still sees NZD/USD uptrend "likely to resume before long suggesting any such pull-back should be viewed as a buying opportunity" they say. NAB expects a year-end level of 0.8700.

Commodity Brief: Little change over the weekend

Little changes in commodity prices in the early start of the week so far, as Gold moves higher from previous weekly close Friday, last at $1583 in the spot rate, off session and weekly highs at $1585, bouncing from session lows at $1575, while Oil moves around the $93 level down -0.12%.
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Forex Flash: UK downgrade may begin new secular trend in GBP - Westpac

GBP/USD looks like it may target levels below 1.50, while EUR/GBP gains momentum to trade as high as 89/90 - unless a 'shocker' in the Italian elections -, as the Sterling looses the ‘safe haven’ status, says Robert Rennie, currency strategist at Westpac. However, he points that at these levels, "Sterling starts to look very cheap to us and our interest in beginning to buy GBP on crosses will rise." Robert does not discard that the GBP may weaken further, but "since it has slid by some 7% versus the US$ so far this year argues against this being the beginning of a new secular trend" Robert says.
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