AUD/NZD has been moving upwards. What is the near-term outlook for the pair?
Here is their view, courtesy of eFXdata:
CitiFX flags a scope for AUD/NZD to ease back towards 1.0380 in the near-term.
“Dovish comments by RBNZ Governor Orr that RBNZ “is open minded on the direct monetisation of NZ debt” have weighed on NZD,” Citi notes.
“Nonetheless, our trader is more constructive on NZD in the long term vs AUD and CAD given the country is set to come out of this lock down in a strong position and benefit from the fast and affirmative action taken. Short term he sees room for a deeper move in AUDNZD to 1.0380,” Citi adds.
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