The AUD/NZD downward correction since August has stalled and the pair could rise to 1.08 on Tuesday but analysts at Westpac expect a slump to the 1.06 neighborhood in the next weeks. By end-2020, they forecast the AUD/NZD pair pushing towards the 1.12 level. Key quotes “Over the next few weeks, the cross could slip further to the 1.06 area. Westpac recently changed its RBA forecast to a 15bp cut at the November meeting and markets are gravitating to that view. In addition, iron ore is under downward pressure as inventories need rebalancing.” “Further ahead, attention will shift to the RBNZ’s next dovish shift, which Westpac expects to be a cheap bank funding scheme (FLP) announced at the November meeting.” “Yields spreads should again favour the AUD, pushing the cross to 1.12 by year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD attempts to recover towards 1.3070 – Commerzbank FX Street 2 years The AUD/NZD downward correction since August has stalled and the pair could rise to 1.08 on Tuesday but analysts at Westpac expect a slump to the 1.06 neighborhood in the next weeks. By end-2020, they forecast the AUD/NZD pair pushing towards the 1.12 level. Key quotes “Over the next few weeks, the cross could slip further to the 1.06 area. Westpac recently changed its RBA forecast to a 15bp cut at the November meeting and markets are gravitating to that view. In addition, iron ore is under downward pressure as inventories need rebalancing.” “Further ahead, attention will shift to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
