Back
24 Mar 2016
NZD/USD keeps the neutral bias near 0.67 – Westpac
According to Strategist Imre Speizer at Westpac, the perspective for the Kiwi dollar remains neutral going into next week.
Key Quotes
“Last week NZD/USD tested, but was repelled by, the top of a contracting range which has formed since Sep 2015”.
“The boundaries are currently at 0.64 and 0.69, and until we get a break, NZD/USD will be uninteresting from a medium term technical point of view”.
“Fundamentally, the NZ-US interest rate outlook argues for lower, but there’s an absence of major NZ data until 18 April (CPI) so that US developments will probably provide the lead during the next few weeks. We are thus neutral around 0.6700 for next week”.
Key Quotes
“Last week NZD/USD tested, but was repelled by, the top of a contracting range which has formed since Sep 2015”.
“The boundaries are currently at 0.64 and 0.69, and until we get a break, NZD/USD will be uninteresting from a medium term technical point of view”.
“Fundamentally, the NZ-US interest rate outlook argues for lower, but there’s an absence of major NZ data until 18 April (CPI) so that US developments will probably provide the lead during the next few weeks. We are thus neutral around 0.6700 for next week”.