NZD/USD: Negative bias for the week ahead - Westpac

Imre Speizer, Research Analyst at Westpac, adopts a negative bias for NZD/USD for the week ahead, targeting the 0.68- 0.69 area.

Key Quotes

“Although NZ factors are mostly NZDsupportive, they are dominated by international developments, notably the Trump administration’s increasingly trade protectionist stance which is hurting commodity currencies.”

“A significant risk to our negative bias, though, is the extreme short NZD/USD positioning among speculators reported by CFTC, warning of a decent rebound during the weeks ahead.”