According to the New Zealand Central Bank, "The trade-weighted exchange rate has fallen 4 percent since February, partly in response to weaker dairy prices and reduced interest rate differentials. This is an encouraging move, but further depreciation is needed to achieve more balanced growth."
This is further supporting evidence that NZD is dovish and a bearish in the currency is still forthcoming. The short-term chart is also clear and my quarterly forecast is unchanged.
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Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
According to the New Zealand Central Bank, "The trade-weighted exchange rate has fallen 4 percent since February, partly in response to weaker dairy prices and reduced interest rate differentials. This is an encouraging move, but further depreciation is needed to achieve more balanced growth."
This is further supporting evidence that NZD is dovish and a bearish in the currency is still forthcoming. The short-term chart is also clear and my quarterly forecast is unchanged.