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NZD/USD targets 0.65-0.66 – Westpac

FXStreet (Edinburgh) - Imre Speizer, Strategist at Westpac, sees the pair resuming its downside towards the 0.65/0.66 area in the near term.

Key Quotes

“The FOMC’s hawkish surprise should easily dominate the RBNZ’s mild hawkish surprise today, keeping NZD/USD on the back foot during the week/s ahead”.

“We target the 0.6500-0.6600 area. The RBNZ today sounded more upbeat than it did in September, and added more uncertainty around the prospect of a December cut”.

“This should help the NZD perform well against most crosses in the near term, the USD being the obvious exception”.

“That said, our inflation outlook compels us to stick with our call for a December cut to 2.5%, which should help guide NZD/USD towards 0.6200 over the next three months”.

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