Australian and New Zealand dollar updates for the week ahead via ANZ's outlook. In brief:


  • Improving news and some suggestions that the pandemic may have reached its peak have seen the AUD outperform.
  • Its medium-term prospects are likely to hinge on how fast activity can resume and how well economies cope with resurgences in case numbers.
  • ANZ Fair value: 0.67


  • A large share of New Zealand's exports goes to Asia, leaving it exposed to a global growth slowdown.
  • The mix of lower export volumes, tourist arrivals, commodity prices and business confidence will continue to weigh on the NZD, despite recent outperformance from improving risk sentiment.
  • ANZ Fair value: 0.65