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NZD/USD could head towards 0.62 by year-end – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Imre Speizer, Strategist at Westpac, remains bearish on the pair, which could reach 0.62 by end of 2015.

    Key Quotes

    “We have flipped to a positive bias for the month ahead, but remain bearish over a three month horizon”.

    “Our target for the week ahead is 0.6750. The rebound in dairy prices (92% since the August low for WMP) and still strong migration and housing should keep the RBNZ on hold on 29 Oct”.

    “Moreover, NZD/USD is currently 7% below fair value implied by commodities, interest rates and risk sentiment, probably because the US dollar is overvalued”.

    “Multi-month, we see the NZ economy slowing and the RBNZ easing in December, taking NZD/USD to 0.62”.
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