18 Jun 2015
NZD/USD expected to see 0.6550 by September – Westpac
FXStreet (Barcelona) - Imre Speizer of Westpac maintains the bearish view on NZD/USD, expecting the pair to see 0.68 levels in a week and 0.6550 by September.
Key Quotes
“We maintain our bearish outlook for NZD/USD. The RBNZ is in easing mode but a July cut is only 70% priced in, which means there’s scope for another RBNZ-led selloff next month. Moreover, we expect another two cuts this year, with some chance of a third, the RBNZ likely to keep its foot on NZD for some time. Our next major target is 0.6800 (Feb 2010 low) which could be seen within a week, but by September we expect to see 0.6550.”
Key Quotes
“We maintain our bearish outlook for NZD/USD. The RBNZ is in easing mode but a July cut is only 70% priced in, which means there’s scope for another RBNZ-led selloff next month. Moreover, we expect another two cuts this year, with some chance of a third, the RBNZ likely to keep its foot on NZD for some time. Our next major target is 0.6800 (Feb 2010 low) which could be seen within a week, but by September we expect to see 0.6550.”