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19 May 2015
Potential test of 0.73 in NZD/USD – Westpac
FXStreet (Edinburgh) - The kiwi dollar could be poised for a visit of the 0.73 area in the upcoming weeks, suggested strategists at Westpac.
Key Quotes
“NZD/USD has been weighed down by market expectations the RBNZ will cut the OCR this year”.
“Housing market tightening measures, announced by the RBNZ and the Government during past week, have emboldened that view, while today's surprising stability in inflation expectations may be viewed as providing a minor rally to sell into”.
“Actual CPI outcomes are expected to remain near zero all year. We target sub-0.7300 during the next few weeks”.
“Comprehensive negative momentum across time frames confirms a return to the medium term downtrend. Downtrend lows at 0.7175/95 are likely to be challenged”.
Key Quotes
“NZD/USD has been weighed down by market expectations the RBNZ will cut the OCR this year”.
“Housing market tightening measures, announced by the RBNZ and the Government during past week, have emboldened that view, while today's surprising stability in inflation expectations may be viewed as providing a minor rally to sell into”.
“Actual CPI outcomes are expected to remain near zero all year. We target sub-0.7300 during the next few weeks”.
“Comprehensive negative momentum across time frames confirms a return to the medium term downtrend. Downtrend lows at 0.7175/95 are likely to be challenged”.