NZD/EUR: Multi-month decline remains intact - Westpac

In view of Imre Speizer, Research Analyst at Westpac, NZD/EUR’s multi-month decline remains intact but does look stretched in the mid-0.62s.

Key Quotes

“Most EU country March industrial production data were solid, supporting a stronger EUR, but a softer profile for Germany and a dovish ECB Bulletin survey on EU labour underscore reasons for ECB accommodation and warn the EUR rally is getting ripe.”

“The highlights of the event calendar this week are EU industrial production (12th), 1Q GDP for Germany (12th) and EZ (16th), final April EZ CPI (17th), and French 1Q labour data (18th).”

“3 months ahead: The makeup of the French Parliament, plus Brexit negotiations, are factors which could eventually help NZD/ EUR rebound towards the mid-0.60s.”