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21 May 2015
NZD/USD break below 0.73 to target 0.71 – Westpac
FXStreet (Barcelona) - Imre Speizer of Westpac, expects NZD/USD to break below 0.7300 and head towards 0.7100 in the next few months.
Key Quotes
“The NZD/USD downtrend since the beginning of May remains intact and we target a break below 0.7300 during the week ahead, with a run to 0.7100 during the next few months. Watch out, though, for the RBNZ MPS on 11 June, which is unlikely to result in an OCR cut and should disappoint the market. We would view the ensuing bounce as one to sell into. In July we will get the next reading on CPI infl ation which we forecast to be 0.3% yoy, encouraging market doves."
Key Quotes
“The NZD/USD downtrend since the beginning of May remains intact and we target a break below 0.7300 during the week ahead, with a run to 0.7100 during the next few months. Watch out, though, for the RBNZ MPS on 11 June, which is unlikely to result in an OCR cut and should disappoint the market. We would view the ensuing bounce as one to sell into. In July we will get the next reading on CPI infl ation which we forecast to be 0.3% yoy, encouraging market doves."