NZD/USD: Negative bias for the week ahead - Westpac

Sandeep Kanihama FXStreet Contributor

Imre Speizer, Research Analyst at Westpac, adopts a negative bias for NZD/USD for the week ahead, targeting the 0.68- 0.69 area.

Key Quotes

“Although NZ factors are mostly NZDsupportive, they are dominated by international developments, notably the Trump administration’s increasingly trade protectionist stance which is hurting commodity currencies.”

“A significant risk to our negative bias, though, is the extreme short NZD/USD positioning among speculators reported by CFTC, warning of a decent rebound during the weeks ahead.”

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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