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10 Dec 2015
NZD/USD still targets 0.62 by March – Westpac
FXStreet (Edinburgh) - Strategist Imre Speizer at Westpac expects the Kiwi dollar to depreciate further vs. the dollar, targeting the 0.62 area by March 2016.
Key Quotes
“NZD/USD reached our 0.68 target last week, and is likely to retest that level during the week ahead”.
“The RBNZ MPS today gave mixed messages regarding guidance, such that NZD/USD jumped 1c in response, despite the 25bp cut”.
“The NZ GDP release next week is likely to support further gains, and there are signs a Fed hike is fully priced and thus unlikely to stem this NZD/USD rally”.
“We target the 0.68-0.69 area during the week ahead, but remain of the view the RBNZ will be forced to cut the OCR further to achieve its inflation target. We target 0.62 by March”.
Key Quotes
“NZD/USD reached our 0.68 target last week, and is likely to retest that level during the week ahead”.
“The RBNZ MPS today gave mixed messages regarding guidance, such that NZD/USD jumped 1c in response, despite the 25bp cut”.
“The NZ GDP release next week is likely to support further gains, and there are signs a Fed hike is fully priced and thus unlikely to stem this NZD/USD rally”.
“We target the 0.68-0.69 area during the week ahead, but remain of the view the RBNZ will be forced to cut the OCR further to achieve its inflation target. We target 0.62 by March”.