The New Zealand economy is showing signs of improvement. What is the outlook in the long-term for AUD/NZD?
Here is their view, courtesy of eFXdata:
Citi likes NZD in G10 space and prefers shorts in AUD/NZD in the long-term.
“Kiwi is an outperformer in G10 as the country starts to grind back into gear. The outlook v AUD is very favourable and the debate in Australia “now is that’s its more likely that I can fly (from my Darling Point office in Sydney) to Queenstown before I can fly to Queensland or Western Australia (wouldn’t want to anyway)”. Citi notes.
“Longer-term AUDNZD downside remains attractive,” Citi adds.
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