Expect NZD/USD to average 65.9 cents by Q4 in 2018 – ASB Survey

Dhwani Mehta FXStreet

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”.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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