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- NZD: Risk remains to the downside as New Zealand's lockdown extended again - MUFG
NZD: Risk remains to the downside as New Zealand's lockdown extended again - MUFG
eFXdata reports that analysts at MUFG Research discuss NZD outlook in the light of a lockdown extension in New Zealand.
"The main focus for the markets, therefore, remains the potential impediments to growth stemming from COVID and supply constraint uncertainties. In New Zealand today, PM Ardern announced a further extension to the Level 4 lockdown, which will now remain in place until midnight on 31st August. Ardern provided further guidance by stating that Auckland and the Northland region would remain at Level 4 for another two weeks but the rest of New Zealand could move to Level 3 from 1st September."
"AUD and NZD are both advancing modestly versus the US dollar today suggesting much of the economic bad news is priced now. Risks remain to the downside however given that COVID infections could still worsen further."
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