NZD: Neutral bias for the week ahead – Westpac

Imre Speizer, Research Analyst at Westpac, adopts a neutral bias for the week ahead, noting the US dollar’s rebound has stalled, in turn almost bringing the 3- week old decline in NZD/USD to a halt.

Key Quotes

“The NZD has been a reluctant diver during the past few weeks, possibly related to speculative positioning (quite short say CFTC) and its slight undervaluation.”

“Multi-month, though, we continue to expect a NZD/USD decline to sub-0.69, driven by a rising US dollar.”