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NZD/USD: Potential to extend to 0.7050 near term - Westpac

Imre Speizer, research analyst at Westpac, thinks that NZD/USD pair has the potential to extend to 0.7050 near term, given speculators remain very short.

Key Quotes

“But it should soon start to lose the support of NZ data surprises, with GDP, jobs, and CPI all expected to lose momentum over the next few months. We also note it’s 4% overvalued, according to yield/ commodities/ sentiment/ USD.”

“Throw an expected stronger US dollar into the mix, and we have NZD/USD falling to 0.6500 in Q1 2019.”

 

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