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23 Mar 2016
NZD/USD seen at 0.70 by year-end – Danske Bank
Jens Pedersen, Senior Analyst at Danske Bank, expects the Kiwi dollar to appreciate further towards the 0.71 handle by end of 2016.
Key Quotes
“The March rate cut from RBNZ reversed the course for NZD which has gained support from waning inflation expectations and improvement in global risk sentiment”.
“However, with the risk of a global economic downturn fading and that commodity prices have bottomed, we look for NZD/USD to hold on to recent gains”.
“Towards the end of the year, stronger global economic growth and higher commodity prices will support a higher NZD/USD, around 0.70”.
Key Quotes
“The March rate cut from RBNZ reversed the course for NZD which has gained support from waning inflation expectations and improvement in global risk sentiment”.
“However, with the risk of a global economic downturn fading and that commodity prices have bottomed, we look for NZD/USD to hold on to recent gains”.
“Towards the end of the year, stronger global economic growth and higher commodity prices will support a higher NZD/USD, around 0.70”.