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

Imre Speizer, Research Analyst at Westpac, adopts a positive bias for NZD/USD for the week ahead, targeting 0.71.

Key Quotes

“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.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.