18 Feb 2015
AUD/NZD: Risk of heading for new lows - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac noted that the conditions surrounding the NZD overnight leading into Asia.
Key Quotes:
"NZD/USD was very choppy within a 0.7496 – 0.7555 range in NY."
"The bi-monthly dairy auction resulted in another steep price rise for whole milk powder (13.7%), probably influenced by lower supply amid the NZ drought."
"Despite that, AUD/NZD was largely flat, around 1.0370. For our outlook on the cross, risk of new lows but well below fair value”."
Key Quotes:
"NZD/USD was very choppy within a 0.7496 – 0.7555 range in NY."
"The bi-monthly dairy auction resulted in another steep price rise for whole milk powder (13.7%), probably influenced by lower supply amid the NZ drought."
"Despite that, AUD/NZD was largely flat, around 1.0370. For our outlook on the cross, risk of new lows but well below fair value”."