Expect NZD/USD to average 65.9 cents by Q4 in 2018 – ASB Survey
|ASB Bank, a bank owned by Commonwealth Bank, operating in New Zealand, came out with its latest currency survey, which Surveys businesses' expectations for the NZD/USD and business hedging plans.
Key Findings:
“A clear turnaround in NZD sentiment was evident.
Now expect the NZD/USD to average 65.9 cents by Q4 in 2018, which compares to a 12-month outlook of 75 US cents just three months ago.
Respondent groups have a similar outlook, irrespective of their trade focus or size of the operation.
There were differences by trade orientation, with the lower NZD reducing hedging intentions for exporters (52.4%), increasing intentions for importer/exporters (at 97%, the highest on record), with those for importers steady at around 90%.
For those enterprises that plan to hedge, the cover is equivalent to 93.7% of FX exposures, the highest on record”.
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.