Election polls are affecting the NZD - Westpac
|Although NZD/USD has enjoyed a 2 cent rally in September, it remains below fair value estimates, suggests Imre Speizer, Research Analyst at Westpac.
Key Quotes
“As recently as 15 August it was trading at fair value, but since then it has diverged lower. That coincides with NZ election polls showing the race will be much closer than was previously expected.”
“A reaction on Monday is likely, with recent reactions to polls the best indicator of direction (NZD has fallen on Labour gains and risen on National gains in polls).”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.