AUD/NZD: Move to 1.00 over the coming weeks – TDS
|Macro drivers point to more downside in the weeks ahead. Analysts at TD Securities like parity in the AUD/NZD cross.
Key quotes
“We expect a move to 1.00 in AUD/NZD over the coming weeks. We also note that NZD short positioning is slightly more stretched than AUD.”
“The relative MRSI weights underscore another push lower in the cross. Most notably, the factors have worked against AUD over the past month, reflecting relative growth and inflation downgrades.”
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