Analysts at Bank of America Merrill Lynch, are increasingly bearish on NZD/USD pair, while they maintain their bullish outlook on USD/CAD pair.
Key Quotes
“These signals are supported by medium-term valuation and monetary expectations.”
“Bullish USD/CAD is further supported by flows, positioning and momentum, a potentially powerful mix of signals rarely aligned together.”
“Bearish NZD/USD is also supported by seasonals.”