NZ: Budget likely to show that economy’s performance is generating greater revenue - BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH suggest that tomorrow New Zealand’s milk coop will set initial prices for the new fiscal year, and separately the government may announce that the economy’s performance is generating greater revenue.

Key Quotes

“It is likely to announce modest tax cuts ahead of the September election. This may allow the New Zealand dollar to extend its recovery. It had fallen to a one-year low on May 11 near $0.6820. It pushed above $0.7000 yesterday. Offers were seen in front of $0.7050, but near-term potential extends toward $0.7100.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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