Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group see NZD/USD trading within the 0.5860-0.5960 range in the next few weeks. Key
24-hour view: We expected NZD to edge higher yesterday. However, we were of the view that it “is unlikely to break clearly above 0.5930.” NZD rose more than expected to 0.5935 before easing off. Despite the advance, there is no clear increase in momentum, and NZD is unlikely to rise further. Today, NZD is more likely to trade in a range, probably between 0.5890 and 0.5935.
Next 1-3 weeks: Our update from yesterday is still valid. As highlighted, the recent downward pressure has subsided. For now, NZD is likely to trade in a range, probably between 0.5860 and 0.5960. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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