Forex Flash: NZD uptrend remains intact - ANZ
FXstreet.com (San Francisco) - The New Zealand dollar has come under significant selling pressure versus the greenback over the last couple of weeks, but "The broad NZD uptrend remains intact," says David Croy, Head of Markets Research at ANZ.
He also says that "Gains will be harder to come by between now and the end of Q1 next year, especially while the spectre of RBNZ cuts hangs over the market," but notes that "trends in commodity prices and potential flows tell a different story, and suggest that the NZD will remain bid."
Mr. Croy adds: "It's also worth bearing in mind that the NZD could fall victim to a bout of risk-off sentiment should fears over the US fiscal cliff intensify, or the EUR weakens materially if the European debt crisis worsens."
He also says that "Gains will be harder to come by between now and the end of Q1 next year, especially while the spectre of RBNZ cuts hangs over the market," but notes that "trends in commodity prices and potential flows tell a different story, and suggest that the NZD will remain bid."
Mr. Croy adds: "It's also worth bearing in mind that the NZD could fall victim to a bout of risk-off sentiment should fears over the US fiscal cliff intensify, or the EUR weakens materially if the European debt crisis worsens."
Free Annual Reports
