NZD/USD under downward pressure - Westpac

Sandeep Kanihama FXStreet Contributor

Imre Speizer, Research Analyst at Westpac, suggests NZD/USD’ remains under downward pressure.

Key Quotes

“There has been some dissipation of the election-related discount, and the USD rally has stalled, but 0.6820 looks vulnerable to a retest as NZ-US interest rate spreads reach 17-year lows.”

“The market highlights from the NZ data calendar during the week ahead are: GDT dairy auction (20 Nov), trade data (24 Nov), ANZ business confidence (30 Nov), and Q3 terms of trade (1 Dec).”

“Three months ahead: Our medium term outlook for NZD/USD remains largely dependent on the outlook for the US dollar. A persistent rebound in the US dollar should drag NZD/USD lower to the 0.67 area by year end.”

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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