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NZD/EUR medium term downtrend intact - Westpac

The NZD/EUR downtrend remains intact, but there’s risk of a minor rebound to 0.61 during the week ahead, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“The ECB has signalled its intentions regarding its QE program, reducing the pace of accommodation by 50%.”

3 months ahead: European economic data is improving, witness sentiment surveys at multi-year highs. However, after easing recently, political tensions in the EU could still resurface, with disconcerting rises in periphery parties in Germany and the prospect of Italian elections in H1 18. A German coalition may take months to form. Barring political shocks, though, NZD/EUR should gravitate lower towards 0.56.”

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