NZD/USD: There is bot a compelling reason for Kiwi to go higher – ANZ

FXStreet Insights Team FXStreet

NZD/USD is up a touch but is still below 0.60. Economists at ANZ Bank analyze Kiwi’s outlook.

Fed to continue its higher for longer narrative

It’ll all be about which way the pendulum swings on the soft-landing debate, and whether markets think the Fed can get away with fine-tuning or will have to get the ‘hammer’ out again.

The consensus is that they’ll signal one more hike but may not deliver it, with the outcome data dependent. Markets like that vibe, but any deviation from that will impact US bonds, and by extension the USD.

Locally, the 4.6% rise in WMP at the GDT auction was a relief and may give markets confidence that NZD downside is limited, even if there isn’t a compelling reason for it to go higher (without USD weakness).

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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