NZD/USD Outlook: Down this week
The decline in NZD/USD, which started on 10 July from 0.8836, has resumed (following a brief correction from 0.8409 to 0.8514). From here we should see a continuation to 0.8300 during the weeks ahead.
US factors pushing the USD higher are the main explanations, but NZ’s soft economic patch has also contributed (our short term economic data pulse model is currently pointing downwards), as has the RBNZ’s intervention threat voiced in July.
We continue to target 0.8200 by year end.
Read the full report: FX Research