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14 May 2015
NZD/USD dominated by 0.74-0.77 range – Westpac
FXStreet (Edinburgh) - According to Imre Speizer, Strategist at Westpac, the pair’s neutral bias could leave it trading within the 0.74-0.77 range so far.
Key Quotes
“The US dollar’s decline is doing enough to off set the negative NZ news of late, holding NZD/USD in a 0.73-0.77 multi-month range”.
“We thus switch back to a neutral bias for the week ahead, but remain bearish 3 months out, targeting 0.71”.
“The medium term negatives remain the RBNZ’s conditional easing bias, falling inflation, and low wages”.
“Next week’s inflation expectations survey will be an important update. Barring a surprise, we would expect a 0.7400-0.7700 range to contain”.
Key Quotes
“The US dollar’s decline is doing enough to off set the negative NZ news of late, holding NZD/USD in a 0.73-0.77 multi-month range”.
“We thus switch back to a neutral bias for the week ahead, but remain bearish 3 months out, targeting 0.71”.
“The medium term negatives remain the RBNZ’s conditional easing bias, falling inflation, and low wages”.
“Next week’s inflation expectations survey will be an important update. Barring a surprise, we would expect a 0.7400-0.7700 range to contain”.