The NZD/USD pair continues to consolidate sideways in the mid-high 0.71s. Economists at Westpac forecast the kiwi at 0.75 by way of April as the USD have to weaken further. In addition, the NZ economy’s overall performance in view that covid has been more suitable than expected, presenting vital guide for NZD outperformance.
“We’re searching for an eventual wreck above 0.7250 to sign a large upside damage is in store.”
“Multi-month, we anticipate threat sentiment to stay elevated; supported through extraordinary international central financial institution and authorities stimulus, and vaccine development.”
“Medium-term, we continue to be bullish, focused on 0.7500 through April (that used to be the top region between 2016 and 2018).”
“Key drivers are anticipated to be USD weak spot and NZ monetary boom outperformance.”