Goldman Sachs lower their forecasts for AUD and NZD

Author: Eamonn Sheridan | Category: News

Info via a GS (economists) client note on the Australian and New Zealand dollars

Forecasts for AUD/USD
  • 3-month 0.68 (prior forecast was 0.70)
  • 6-month 0.6 (from 0.72)
  • 12-month 0.70 (from 0.75 previously)
  • 3-month 0.65 (from 0.66 previously)
  • 6-month0.66 (0.68)
  • 12-month 0.67 (from 0.71)
GS reasoning:
  • protracted US / China trade war
  • weaker Australian economic growt
  • RBNZ's bigger than was expected rate cut
  • h and a larger-than-expected rate cut by the Reserve Bank of New Zealand has Goldman Sachs strategists including Zach Pandl revising lower forecasts for the Australian and New Zealand dollars.
GS say that "a lot of bad news is already in the price" but rallies will be limited by the trade conflict and weaker growth

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