Goldman Sachs downs Antipodeans’ forecasts over the coming months

In the latest client note, analysts at the US investment banking giant, Goldman Sachs, revised down their outlook on the Antipodeans over the coming months.

Key Quotes:

“AUD/USD 3-month forecast now at 0.68 vs. the previous forecasts of 0.70.

The 6-month forecast now at 0.60 vs. the previous forecasts of 0.72.

The 12-month forecast now at 0.70 vs. the previous forecasts of 0.75.

NZD/USD 3-month forecast now at 0.65 vs. 0.66 previous.

The 6-month forecast now at 0.66 vs. 0.68 previous.

The 12-month forecast now at 0.67 vs. 0.71 previous.

Protracted US / China trade war.

Weaker Australian economic growth.

RBNZ's bigger than was expected rate cut and a larger-than-expected rate cut.

"A lot of bad news is already in the price" but rallies will be limited by the trade conflict and weaker growth.”