The NZD / USD is currently trading at 0.6523, down -0.07% on the day as the kiwi is still suffering from a bearish momentum, but unless the pair plunges below 0.65, further losses are not expected. Westpac economists see NZD / USD trading at 0.67 in the coming months.
“The kiwifruit maintains slight bearish momentum but needs to maintain a break below 0.6500 to signal larger losses.”
“Risk sentiment is expected to remain firm at the end of the year, supported by unprecedented stimulus from the world central bank and the government.”
“The New Zealand economy is expected to outperform the United States and New Zealand commodity prices are holding up. A declining yield spread that has yet to be exerted partially offsets these positive effects. The net effect is expected to take the NZD / USD to 0.67 over the next few months. “