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NZD/USD to rise toward 0.67 in a few months – Westpac

NZD/USD to rise toward 0.67 in a few months – Westpac ; NZD/USD is currently trading at 0.6523, down -0.07% on the day, as the kiwi still suffers downside

NZD/USD to rise toward 0.67 in a few months – Westpac
Yazar: Zack Smith

Yayınlanma: 25 Ağustos 2020 11:35

Güncellenme: 19 Kasım 2024 05:18

NZD/USD to rise toward 0.67 in a few months – Westpac

25 August 2020, 10:24
NZD/USD is currently trading at 0.6523, down -0.07% on the day, as the kiwi still suffers downside momentum but unless the pair dips below 0.65 further losses are not expected. Economists at Westpac see NZD/USD trading at 0.67 in the coming months.

Key quotes

“The kiwi retains slight downward momentum but needs to sustain a break below 0.6500 to signal larger losses.” “Risk sentiment is expected to remain firm into year-end, supported by the unprecedented global central bank and government stimulus.” “NZ’s economy is expected to outperform the US, and NZ commodity prices are resilient. Partly offsetting these positive effects is a declining yield spread which has further to run. The net effect should lift NZD/USD to 0.67 during the next few months.”  
S3 S2 S1 R1 R2 R3
0.6467 0.6494 0.6511 0.6555 0.6582 0.6599
Trend Index OB/OS Index
Bearish Neutral
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