2 Jul 2015
NZD/USD could grind lower towards the mid-0.65s – Westpac
FXStreet (Edinburgh) - Strategist Imre Speizer at Westpac sees the pair dropping to the area of 0.6550 by September.
Key Quotes
“We maintain our negative outlook for NZD/USD, targeting 0.6550 by September. If the current pace of decline persists, we’ll get there this month”.
“Notable recent developments have included the sharp fall in dairy prices at last night’s auction, WMP down 11% and SMP down 6%”.
“While the effect on farmer incomes will be smaller, given the NZD has also fallen, the lack of demand at a time when NZ supply is starting to seasonally ramp up is worrying”.
“Markets have fully priced a 2.75% OCR and are likely to tend towards 2.50%”.
Key Quotes
“We maintain our negative outlook for NZD/USD, targeting 0.6550 by September. If the current pace of decline persists, we’ll get there this month”.
“Notable recent developments have included the sharp fall in dairy prices at last night’s auction, WMP down 11% and SMP down 6%”.
“While the effect on farmer incomes will be smaller, given the NZD has also fallen, the lack of demand at a time when NZ supply is starting to seasonally ramp up is worrying”.
“Markets have fully priced a 2.75% OCR and are likely to tend towards 2.50%”.