NZD/USD: Negative bias for the next few months - Westpac

Sandeep Kanihama FXStreet Contributor

Imre Speizer, Research Analyst at Westpac retains a negative bias for the next few months even after NZD/USD has fallen sharply during the past month, which is a reflection of not only the stronger US dollar, but also an accommodative RBNZ (OCR to remain at its 1.75% record low for the next two years) and, more recently, dairy price weakness.

Key Quotes

“The latest GDT dairy auction was surprisingly weak, with a number of contracts trading limit down (-15%) or not even attracting a bid. A strong finish to this season’s NZ production is clearly weighing on prices. Another weak affair on 21 March would be more fuel for NZD bears.”

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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