NZD/USD retains a hint of negativity - Westpac

Imre Speizer, Research Analyst at Westpac, notes that the NZD/USD has settled into a 0.7130- 0.7240 range but retains a hint of negativity.

Key Quotes

“That is mainly a result of the US dollar trying to resume its uptrend. Given the paucity of market-moving NZ news expected during the week ahead, US dollar dynamics will probably dominate the pair.”

“The next major NZ data event is not until mid-March when we get Q4 GDP, and then it’s the RBNZ.”

“Multi-month, we continue to expect a NZD/USD decline to 0.70 or lower, driven by a US dollar resurgence.”