A snippet from Westpac on their updated outlook for the New Zealand dollar:
- Remains at the mercy of global risk sentiment near term
- potential for upside during the next few weeks
- Economic data releases over the next few months will be dire, denting sentiment further.
- we expect the RBNZ to cut the OCR to -0.50% in November
- There's potential to see 0.5800 during the next few months
Daily NZD chart: