7 Jul 2015
NZD/USD headed towards 0.62 in Q4 2015 – Westpac
FXStreet (Edinburgh) - The Antipodean pair could drop to the 0.6200 area by end of the current year, according to strategists at Westpac.
Key Quotes
“We remain bearish on NZD/USD and look to the next target at 0.6560”.
“The RBNZ is likely to cut the OCR again in a few weeks, dairy prices remain in decline, and Greek-inspired global risk aversion permeates”.
“Westpac now expects the OCR to be cut by 25bp at each of the July, September and October RBNZ meetings”.
“We are now forecasting an average NZD/USD exchange rate of 62 cents in the December quarter of 2015”.
Key Quotes
“We remain bearish on NZD/USD and look to the next target at 0.6560”.
“The RBNZ is likely to cut the OCR again in a few weeks, dairy prices remain in decline, and Greek-inspired global risk aversion permeates”.
“Westpac now expects the OCR to be cut by 25bp at each of the July, September and October RBNZ meetings”.
“We are now forecasting an average NZD/USD exchange rate of 62 cents in the December quarter of 2015”.