28 Apr 2014
NZD/USD Outlook: Down this week - Westpac
FXStreet (Bali) - Imre Speizer, FX Strategist at Westpac, expects the NZD/USD to trade on an offered tone this week, potentially approaching the 0.85 lows.
Key Quotes
"NZD/USD has suffered from US economic data surprises lately. The recent string of US economic data surprises has boosted the US dollar relative to the NZD."
"Near term momentum in NZD/USD has flipped to negative and we expect it to approach the low 0.85’s this week."
"However, speculators continue to buy the NZD, aware the RBNZ tightening cycle has some way to run. We expect the current corrective phase to give way to a resumption of the uptrend."
Key Quotes
"NZD/USD has suffered from US economic data surprises lately. The recent string of US economic data surprises has boosted the US dollar relative to the NZD."
"Near term momentum in NZD/USD has flipped to negative and we expect it to approach the low 0.85’s this week."
"However, speculators continue to buy the NZD, aware the RBNZ tightening cycle has some way to run. We expect the current corrective phase to give way to a resumption of the uptrend."