Imre Speizer, Research Analyst at Westpac, adopts a positive bias for NZD/USD for the week ahead, targeting 0.71.
“NZD supportive factors include rising dairy prices, rising NZ inflation, and NZD speculator positioning.”
“CFTC reports NZD/USD speculators as extremely short by historical standards, and thus vulnerable to a reversal.”
“Multi-month, though, we continue to expect a NZD/USD decline to sub-0.69, driven by a rising US dollar.”
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