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NZD/USD poised for a test of 0.64 near-term – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Strategist at Westpac Imre Speizer believes the Kiwi dollar could slip towards 0.64 vs. its American counterpart in the next sessions.

    Key Quotes

    NZD/USD retains negative daily momentum and should retest the 0.6400 area during the week ahead, en-route to our multi-month target of 0.6200”.

    “The fresh news this week was decidedly bearish: the RBNZ shifted to an explicit easing bias, just short of signalling an imminent rate cut”.

    “We expect it will do so either in March or June, and eventually take the OCR to 2.00% (from 2.5% now)”.

    “The other piece of news was Fonterra’s reduced milk price forecast, from $4.60 to $4.15, which will hurt sentiment in the agricultural sector”.
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