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NZD/USD neutral bias near term – Westpac

FXStreet (Edinburgh) - Imre Speizer, Senior Markets Strategist at Westpac, sees the outlook for the Kiwi dollar as neutral vs. the greenback in the very near term.

Key Quotes

“We retain a neutral bias for the week ahead, NZD/USD the pair locked in a 0.6430-0.6600 range. The GDT dairy auction could give the NZD a temporary boost since futures markets are predicting a 9% bounce in WMP prices, but an ECB easing and US dollar supportive events should cap any rallies”.

“By year-end, we see the NZ economy slowing, the RBNZ easing in December, and the Fed tightening. We target 0.62. The main risk to this bearish view is the Fed delays its tightening cycle beyond December. A secondary risk is the RBNZ doesn’t cut in December”.

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