NZ 'barometer' forecast says sideways for the NZD, ASB disagrees

Author: Eamonn Sheridan | Category: News

Via ASB in New Zealand, their forecasting 'barometer' report for the NZD/USD in 2016

In brief (bolding mine):

  • The NZD has been trading between 0.6400 and 0.6900 recently, and businesses expect this to continue
  • In contrast, we expect the NZD can drop further over the year ahead, and re-test recent lows
  • The NZD's drop over the past year is not expected to flow through to higher prices for a high proportion of firms

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What is the ASB Kiwi Dollar Barometer?

  • It tracks exporters', importers' and importer/exporters' exposures to foreign exchange risk, through surveying businesses with annual turnover of at least NZ$1 million
  • The Barometer also surveys businesses' expectations for the NZD/USD and businesses' hedging plans for managing foreign exchange risk, as well as special questions on topical issues in the FX markets


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