Aussie, NZD to stick to recent ranges near-term as headwinds persist – Reuters poll

According to the latest Reuters poll, a majority of the forex exchange analysts trimmed their forecasts for the Aussie and NZ dollar in the coming 6 months while the maintained their 12-montn outlook.

Key Findings:

“A Reuters survey of 42 analysts saw median predictions for the Aussie at $0.7100  on a one-month horizon, from $0.7200 in the previous poll and Monday’s close of $0.7210.

Analysts marginally trimmed their projections for 3 and 6 months to $0.7200 and $0.7300 while the outlook for 12 months remained unchanged at $0.7500.

For the kiwi, analysts staunchly held to their predictions for $0.6600 for one-, three- and six-months out and then a slight uptick to $0.6800 in a year’s time.

The currency was last trading at $0.6658, above the $0.6481 seen in the previous poll.

The downside risk was perceived as greater, though, with forecasts stretching as low at $0.6081 on a six-month view.”