There seems to be limited traction for positive risk in the FX market, with the cyclicals not seeing much upside traction. Analysts at OCBC Bank stay negative on the NZD.
Key quotes
“The RBNZ appears to be on the dovish end of the central bank spectrum, preferring not to explicitly rule out negative interest rates.”
“We initiate a tactical short NZD/USD idea (spot: 0.6058), targeting 0.5618 with a stop loss at 0.6278.”
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