2 Jul 2014
NZD/USD sell on rallies - ANZ
FXStreet (Barcelona) - Sam Tuck, ANZ Research, recommends selling the pair on rallies.
Key Quotes
"We increase emphasis on our NZD/USD sell on rallies view, due to continued dairy price declines."
"NZD looks particularly vulnerable against GBP, as the BoE transitions to join the RBNZ in reducing monetary stimulus."
"Dairy prices continue to fall, price action is a worry, and we see downside risks to the Fonterra 2014-15 milk price forecast."
"We note a material tightening of financial conditions in New Zealand of late."
Key Quotes
"We increase emphasis on our NZD/USD sell on rallies view, due to continued dairy price declines."
"NZD looks particularly vulnerable against GBP, as the BoE transitions to join the RBNZ in reducing monetary stimulus."
"Dairy prices continue to fall, price action is a worry, and we see downside risks to the Fonterra 2014-15 milk price forecast."
"We note a material tightening of financial conditions in New Zealand of late."