NZD/USD: Medium term bearish outlook - Westpac

Sandeep Kanihama FXStreet Contributor

Imre Speizer, Research Analyst at Westpac, notes that we got a positive surprise from NZ GDP data and their 0.6725 multi-day forecast stands.

Key Quotes

“The underlying GDP growth rate (stripping out one-offs) is firm and points to a decent outcome for Q3 GDP (we forecast +0.7% qoq with upside risks).”

“Medium term, though, we remain bearish, based on our Fed/economy based expectation that the USD will rise further, and we continue to target 0.64 by year end.”

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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