NZD traders - Citi bearish the kiwi into the election (here's why)
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
- 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.
- adding AUDNZD on dips, a cue could come today on the RBA Minutes or p[perhaps with Thursday's job market data.
ps. on the RBA minutes due today, preview: