NZD: Bearish medium-term bias - ANZ
|According to analysts at ANZ, the squeeze higher for the NZD has been brutal as in between June and October the NZD was the worst performing G10 currency.
Key Quotes
“Since then it has been the strongest performer. In many ways this is justified, as the market shifts from expecting RBNZ rate cuts to hikes, but we now feel it has moved far enough.”
“To be fair though, global risk appetites are in the box seat and we can’t rule out a further push higher in the near-term. But there is certainly still plenty that leaves us cautious (with the mixed global trade headlines over the weekend part of that). And with the TWI back over 75 (4% above the RBNZ’s MPS assumption), the NZD is starting to look extended on some crosses. We retain a bearish medium-term bias.”
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.