14 Jul 2014
NZD/USD: Outlook up/neutral this week - Westpac
FXStreet (Bali) - A cautious positive bias this week in NZD/USD, that's the view from Westpac's Strategist Imre Speizer.
Key Quotes
"Although the uptrend remains intact, momentum has stalled, suggesting further gains will be difficult. Recent strength has been a USD story rather than a NZD one."
"That said, there are a couple of NZ events to navigate through this month: the CPI release this week could provide a small positive surprise, but the RBNZ on 24 July is likely to do the opposite. Thus there is a chance 0.8843 high could be tested this week, followed by a decline in two weeks time."
Key Quotes
"Although the uptrend remains intact, momentum has stalled, suggesting further gains will be difficult. Recent strength has been a USD story rather than a NZD one."
"That said, there are a couple of NZ events to navigate through this month: the CPI release this week could provide a small positive surprise, but the RBNZ on 24 July is likely to do the opposite. Thus there is a chance 0.8843 high could be tested this week, followed by a decline in two weeks time."