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NZD / USD may drawn between 0.59 and 0.62 as early as the first quarter of 2016.

The forecast of the leading banks in North America and New Zealand is in full consensus with the monetary policy of the United States and New Zealand.

Briefly, NZD/USD is expected between 0.59 and 0.62, and the prognosis is that these levels could be reached as early as the first quarter of 2016.

On currency markets, the dollar remains strong. Against the background of the first interest rate rise in the US for nearly a decade expected USD got support against all currencies, although there was no real surprise. The strong dollar, however, continues to affect oil and other dollar-denominated commodities, making them relatively more expensive, but it pushed demand further. Logically most affected at this stage quotations on commodity currencies like CAD, AUD, NZD …
Meanwhile, the Treasury of New Zealand, made intervention, saying in its report that the latest data on the economy of the country are satisfactory GDP forecasts remain positive, but the rate of NZD is highly overestimated. In addition, the rise in US interest rates were discussed as “good news” for the New Zealand economy.
This report comes in support of the aspirations of RBNZ to boost inflation and the depreciation of the NZD against major foreign currencies. The logic of the monetary policy pursued by the central bank set medium-term goals, the US suggest the opposite trend – with smooth declines in interest rates in the medium term. Obviously policy continues officially support the down-trend of the NZD.

nzdusd060116


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