NZD traders - Citi bearish the kiwi into the election (here's why)

Author: Eamonn Sheridan | Category: News

New Zealand is on track for its election, date is Saturday 17 October 2020.

A snippet from Citi on the kiwi $ heading into the date. Analysts at the bank remain bearish into the election citing 
  • renewed dovishness suggested by the RBNZ
  • widening current account deficit
On NZD/USD: 
  • We believe there will be a break of the August low (around 0.65) this month, and in this case, the lows in late June (around 0.64) are likely to be tested. 
On AUD/NZD
  • adding AUDNZD on dips, a cue could come today on the RBA Minutes or p[perhaps with Thursday's job market data.
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ps. on the RBA minutes due today, preview:
New Zealand is on track for its election, date is Saturday 17 October 2020.
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