Search ForexCrunch

In the latest client note, analysts at the US investment banking giant, Goldman Sachs, revised down their outlook on the Antipodeans over the coming months.

Key Quotes:

“AUD/USD 3-month forecast now at 0.68 vs. the previous forecasts of 0.70.

The 6-month forecast now at 0.60 vs. the previous forecasts of 0.72.

The 12-month forecast now at 0.70 vs. the previous forecasts of 0.75.

NZD/USD 3-month forecast now at 0.65 vs. 0.66 previous.

The 6-month forecast now at 0.66 vs. 0.68 previous.

The 12-month forecast now at 0.67 vs. 0.71 previous.

Protracted US / China trade war.

Weaker Australian economic growth.

RBNZ’s bigger than was expected rate cut and a larger-than-expected rate cut.

“A lot of bad news is already in the price” but rallies will be limited by the trade conflict and weaker growth.”