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30 Jun 2015
NZD/USD risks tilted to the downside – ANZ
FXStreet (Barcelona) - Sam Tuck, Senior FX Strategist at ANZ, maintains a bearish outlook on NZD/USD, forecasting the pair to head towards 0.66 by 2015-end and 0.64 by 2016-end.
Key Quotes
“At current levels it is increasingly clear that the NZD has revalued significantly, and history suggests the hurdle to further falls has increased.”
“We see risks for the NZD over July as remaining asymmetrically skewed to the downside, although we expect the pace of NZD declines to slow as market expectations adjust to the weaker data environment.”
“Forecasts:
Sep-15: 0.68
Dec-15: 0.66
Mar-16: 0.65
Dec-16: 0.64”
Key Quotes
“At current levels it is increasingly clear that the NZD has revalued significantly, and history suggests the hurdle to further falls has increased.”
“We see risks for the NZD over July as remaining asymmetrically skewed to the downside, although we expect the pace of NZD declines to slow as market expectations adjust to the weaker data environment.”
“Forecasts:
Sep-15: 0.68
Dec-15: 0.66
Mar-16: 0.65
Dec-16: 0.64”