Comments on the New Zealand dollar outlook from Westpac:
- Have a bullish bias for the week ahead
3 months ahead:
- The next major target area is 0.62, a level which provided support during the middle of 2009. The two main factors expected to contribute to NZD/USD weakness during the next few months are RBNZ easing (we expect the OCR to fall to 2.5% by year end and eventually to 2.0%) and eventual Fed tightening. Disappointments on either of these fronts would call into question our multi-month bearish view.
- 1 year ahead: Our 1 year ahead forecast is 0.62, based partly on the OCR being cut to 2.0%.
h/t LiveSquawk
