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.”
Share
