NZD/EUR could rise further to 0.6520 - Westpac

NZD/EUR’s could rise further to 0.6520 during the week ahead, although gains should be harder to come by given decent data flow from Europe, feels Imre Speizer, Research Analyst at Westpac.

Key Quotes

“The highlights of the Eurozone event calendar this week are EU Apr trade (15th), May final CPI (16th), EU June consumer confidence, ECB economic bulletin (22nd), flash June PMIs (23rd), and Italian local 2nd round elections (25th June).”

“3 months ahead: Economic data is improving, witness sentiment surveys at six year highs. However, after easing recently, political tensions in the EU could still resurface, with Austria calling early elections in 4Q, and a chance of early elections in Italy. Adverse developments could push NZD/EUR beyond 0.66.”