New Zealand dollar seen near term stronger
A note from ANZ Research on their outlook for the NZD. Via eFX
For bank trade ideas, check out eFX Plus.ANZ are looking for a higher NZ dollar in the near term, targeting AUD/NZD at 1.05 by mid-year.
- "In the short term, the risk is that this apparent optimism will manifests in a higher NZD as markets respond to what we expect to be some strong data releases in the US that are likely to fuel risk appetite. Strategically, broad USD performance and an acceleration in global growth are expected to be the primary drivers for the NZD/USD"
- "Overall, the kiwi's higher beta should see the NZD crosses benefit from themes of economic reopening and developed market vaccine rollouts, which we expect to outweigh uncertainty associated with emerging market growth"