• Analytics
  • News and Tools
  • Market News
  • NZD/USD: Opportunities to re-enter long positions at around 0.60 – ANZ
Market News
30.06.2020, 09:59

NZD/USD: Opportunities to re-enter long positions at around 0.60 – ANZ

FXStreet reports that some weakness will bring opportunities to reset long trades in the NZD/USD pair at 0.60 while economists ANZ Bank has updated kiwi’s forecast to 0.65 for the rest of the year.

“Despite having re-opened the domestic economy, beyond an initial bounce-back, the New Zealand economy remains vulnerable to a weak global demand and no international tourism. Although the hole in GDP is likely behind us, the full economic impact of the recession will become clear over the rest of 2020.” 

“The NZDs outperformance alongside other risk currencies has been tempered by a dovish central bank. We think this dovishness will linger, as the RBNZ eventually increases its large-scale asset purchases and toys with unconventional policy measures such as negative rates and the purchase of foreign bonds.” 

“Against the JPY and the USD we expect consolidation and tactical retracement to offer opportunity for entry given the improved global backdrop.”

“To reflect a more balanced outlook, we have lifted our NZD/USD forecast to 0.65 for the remainder of 2020, recognising the role of liquidity and fiscal support in limiting downside to the global story.”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location