New Zealand Greenback (NZD) is more likely to commerce in a sideways vary of 0.5905/0.5945 towards the US Greenback (USD). Within the longer run, outlook stays blended, however NZD is more likely to commerce in a tighter vary of 0.5835/0.5985, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
NZD is more likely to commerce in a tighter vary of 0.5835/0.5985
24-HOUR VIEW: “We anticipated NZD to ‘commerce in a 0.5900/0.5950 vary’ yesterday. NZD then traded sideways between 0.5896 and 0.5932, closing largely unchanged (0.5926, -0.08%). Additional sideways buying and selling seems doubtless, regardless that the firmer underlying tone suggests the next vary of 0.5905/0.5945.”
1-3 WEEKS VIEW: “We have now anticipated NZD to commerce in a variety for the reason that center of final week. In our most up-to-date narrative from two days in the past (19 Could, spot at 0.5890), we indicated that ‘The outlook stays blended, however we now anticipate a tighter vary of 0.5835/0.5985.’ We proceed to carry the identical view.”
