AUD/NZD: bid above 1.06? - Westpac

Analysts at Westpac offered their outlook for AUD/NZD and rates.

Key Quotes:

"1 day: (1.0760) Has found a base for the time being and likely runs into buyers on any near-term weakness back to 1.06 if seen.

AUD/NZD 1-3 month: Higher to 1.10. The cross remains well below fair value estimates implied by interest rates, commodity prices and risk sentiment, although it is closing the gap (6 Mar).

AU swap yields 1 day: The 3yr should open at around 1.98%, the 10yr around 2.87%.

NZ swap yields 1 day:  Rates are lower post-RBNZ, 2yr swap rates should open around 2.28%, the 10yr at 3.38%."