26 Mar 2015
Outlook for NZD crosses – ANZ
FXStreet (Barcelona) -The ANZ Research team gives the outlook for NZD crosses and the expected range.
Key Quotes
“NZD/USD: The NZD/USD looks set for a test lower this morning, after trying and failing to get above 0.77 again.”
“The failure is more notable given the weakness observed in durable goods orders in the US overnight, a weakness that has kept USD under pressure against European currencies. Also notable is the commodity currency weakness despite a strong night for oil. Expected range: 0.7560 – 0.7660”
“NZD/AUD: With no further data this week attention may switch to the NSW election and Northland by-election. Neither should move the market, but the results may highlight the respective political satisfaction levels. Expected range: 0.9650 – 0.9750”
“NZD/EUR: With NZD seeming ready to test lower, this cross should continue to consolidate, reverting some of the recent gains. Expected range: 0.6880 – 0.7000”
“NZD/JPY: JPY remains a relatively forgotten currency this week, pacing USD direction. Expected range: 90.50 – 91.50”
“NZD/GBP: Last night MPC member Forbes reiterated the BoE will look through temporarily low inflation; tomorrow we have three BoE speakers. Tonight we have retail sales, with expectations that the UK consumer remains cautious. Expected range: 0.5090 – 0.5160”
Key Quotes
“NZD/USD: The NZD/USD looks set for a test lower this morning, after trying and failing to get above 0.77 again.”
“The failure is more notable given the weakness observed in durable goods orders in the US overnight, a weakness that has kept USD under pressure against European currencies. Also notable is the commodity currency weakness despite a strong night for oil. Expected range: 0.7560 – 0.7660”
“NZD/AUD: With no further data this week attention may switch to the NSW election and Northland by-election. Neither should move the market, but the results may highlight the respective political satisfaction levels. Expected range: 0.9650 – 0.9750”
“NZD/EUR: With NZD seeming ready to test lower, this cross should continue to consolidate, reverting some of the recent gains. Expected range: 0.6880 – 0.7000”
“NZD/JPY: JPY remains a relatively forgotten currency this week, pacing USD direction. Expected range: 90.50 – 91.50”
“NZD/GBP: Last night MPC member Forbes reiterated the BoE will look through temporarily low inflation; tomorrow we have three BoE speakers. Tonight we have retail sales, with expectations that the UK consumer remains cautious. Expected range: 0.5090 – 0.5160”