Tuesday, October 27, 2015

NZD/USD: headed lower on RBNZ? - TDS

FXStreet (Guatemala) - Analysts at TD Securities explained that they still look for aggressive language from the central bank to jawbone the currency lower.

Key Quotes:

"NZD/USD is trading well above the cyclical lows observed at the September 10th meeting (0.6250/0.6300) when the RBNZ viewed further depreciation as “appropriate”.

We think we will see aggressive language similar to the July statement where further depreciation was viewed as “necessary” when NZD/USD traded around 0.6600, which is about 2-big figures below where spot currently trades. The TWI sits around 73.50 which is almost 8% above the September 23rd lows. Note that the RBNZ projected a TWI value of 67.9 by the end of December."
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