NZD/USD: Bullish for the near term - Westpac

Imre Speizer, Research Analyst at Westpac, remains bullish on NZD/USD for the near term, expecting a higher 0.7000- 0.7200 trading range.

Key Quotes

“The US dollar is struggling, and NZ fundamentals are strong, today’s stimulatory budget the latest update on that score.”

“Multi-month though, we stick with our bearish outlook, targeting 0.68 by year end. However, that’s contingent on the US dollar resuming the 2016 rally, which requires US political risks dissipate.”