AUD, NZD forecasts upgraded, but still lag the market - RTRS Poll

According to the results of the latest Reuters poll, analysts have upgraded their price-forecasts for the Antipodeans once again, but still lags the current market price.

Key Points:

“A Reuters poll of 46 analysts predicted the Australian dollar at $0.7800 in one month, up from $0.7600 in the July poll and $0.7400 in the survey before that.

Yet the Aussie was already trading at $0.7930 on Thursday and recently hit a top of $0.8066. Back in July the highest forecast in the poll, from OCBC, had been for $0.7750 in one month.

Analysts also upgraded their forecasts for three months ahead to $0.7700, with $0.7600 now penciled in on a six- and 12-month horizon. At the start of 2017, the Aussie had been seen at $0.7300 in six months and $0.7200 in a year.

The New Zealand dollar was forecast at $0.7340 in a month, not far from current levels of $0.7399 and up from $0.7200 in the previous poll. It climbed to $0.7557 last week, the highest since May 2015.

Median forecasts for further out were closely grouped, with the kiwi seen at $0.7275 in three months and at $0.7200 on both a six- and 12-month horizon.”