Analysts at CIBC, forecast the NZD/USD pair will trade at 0.64 during the fourth quarter and at 0.66 in the second quarter of 2020. Key Quotes: “NZD/USD has fallen rapidly since July, and looks to have reached cyclical lows at 0.62 in early October. The swing lower was largely due to the RBNZ, who cut rates to a record low of 1.00%. Despite these rate cuts, we believe that the NZD/USD is oversold.” “The economic surprise index has remained relatively flat since employment numbers surprised to the upside in August, suggesting that New Zealand’s economy hasn’t changed significantly relative to expectations. Given that expectations have been considerably low, we believe that much of the negative news has already been priced in for the year. Market positioning is supportive of our hypothesis, with net shorts reaching the highest level to date. Over the next few months, we believe that the market is due for a short squeeze, especially as the RBNZ pauses to let the impact of looser monetary policy feed through to the real economy.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NY Fed’s GDP Nowcast fell to 1.9% for Q3 FX Street 3 years Analysts at CIBC, forecast the NZD/USD pair will trade at 0.64 during the fourth quarter and at 0.66 in the second quarter of 2020. Key Quotes: "NZD/USD has fallen rapidly since July, and looks to have reached cyclical lows at 0.62 in early October. The swing lower was largely due to the RBNZ, who cut rates to a record low of 1.00%. Despite these rate cuts, we believe that the NZD/USD is oversold." "The economic surprise index has remained relatively flat since employment numbers surprised to the upside in August, suggesting that New Zealand's economy hasn't changed significantly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
