NZD/USD: Bullish profile for the rest of the year – ING
|The New Zealand Dollar (NZD) has had a strong month of February, emerging as the best-performing G10 currency. Economists at ING analyze Kiwi’s outlook.
NZD/USD to break the 0.6500 mark the third quarter
Our view that rate cuts in New Zealand won’t start before August and that the Fed should instead start cutting during the summer translates into a bullish NZD/USD profile for the rest of the year. However, external volatility can offset the positives of a hawkish RBNZ in February and favour a near-term slide to more attractive levels for longer-term bullish positioning.
We see NZD/USD breaking the 0.6500 mark in 3Q24.
Some downside risks related to the US elections and potentially negative implications for China-related sentiment may warrant a less optimistic NZD profile in 4Q24.
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.